Admiral Group Downgraded to Hold as Berenberg Notes 'More Balanced' Near-term Risk Profile

05:23 AM EDT, 08/27/2026 (MT Newswires) -- Berenberg downgraded Admiral Group (ADM.L) to hold from buy, noting that the stock now sits at a "fair market price" and with a "more balanced" risk profile in the near term. "Following a resurgent autonomous debate in January, the shares were at one point trading below GBp2,700 and at decade-low valuations. However, as concerns faded and the market pricing outlook improved, sentiment turned and the shares have since gone up 55%. Looking ahead, we believe the earnings outlook has improved, driven by a better pricing outlook, but we also think this is well captured by consensus," according to a Thursday note. Meanwhile, the research firm reduced its forecasts for the British motor insurer, citing "slightly lower" expectations for UK motor reserve releases for 2026 to 2027. Still, the price target was maintained at 42 pounds sterling. "Admiral has a proven track record of outperformance in a very competitive environment. We expect it to continue to use its sophisticated pricing tools to price effectively and maintain underwriting profitability," Berenberg wrote.