Admiral top up?

[monabri]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

[kempiejon]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

If you have spare cash, it suits your diversification limits and you think the high yield (5% not including specials)is sustainable - of course.
There's enough ADM in my portfolio and my next top up won't be till after next payday - I mopped up some dividends into Severn Trent as my Utes are not as heavily weighted as insurers in my HYP.

But I don't usually care about short term oscilations in share price so today's dip might be the beginning of streak or a short term blip but it does look like about the best yield level this year and ADM have a long history of double digit income rises annually going back a decade or more in my portfolio.

[jackdaww]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

=============================

you can have mine - just sold the lot .

[Dod101]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

Actually, according to 88V8 they sold 12.1 million shares at just under £30 each, realising around £360 million, rather more than £12 million.

How significant? We do not know but it has of course dented the share price, at least in the short term.

Dod

[idpickering]

I have a 'full' holding of Admiral Group in my HYP, and they're my second largest holding in capital value terms, as I showed in this thread viewtopic.php?p=443590#p443590 . Because of this I will not be buying any more ADM any time soon. I'm not selling out either.

Ian.

[monabri]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

Actually, according to 88V8 they sold 12.1 million shares at just under £30 each, realising around £360 million, rather more than £12 million.

How significant? We do not know but it has of course dented the share price, at least in the short term.

Dod

Apologies..I misread the Hargreaves Lansdown webspage - they did indeed sell off 12.1 million shares...a bit of a difference!

[monabri]

12m shares....approx 4% of 295m total Ordinary shares.

Edit : some more info on the sale.

https://www.reinsurancene.ws/munich-re- ... ding-to-6/

[Dod101]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

=============================

you can have mine - just sold the lot .

Was their any concern for you to sell what has certainly been one of my better investments?

Dod

[Arborbridge]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

=============================

you can have mine - just sold the lot .

Why was that? Focussing somewhere else, perhaps?

As for me, After some pickering, I made a small trimming in mid September and even with the price drop since then, they are still at 1.5x median weight and provide 6.6% of my forecast income (I hope!).

Arb.

[88V8]

..some more info on the sale.
https://www.reinsurancene.ws/munich-re- ... ding-to-6/

Well that gives a degree of comfort, depending of course on the terms. Whether the extensions to 2023, 2026, 2029 are binding on both parties or the sort of long term agreement that binds only party, one does not know.

Unusually for me, I trimmed Admiral near their peak based on their capital value, but then undid that by suggesting that OH should buy them, which she did at a lower price a few days later and is now well underwater.

Admiral's attraction depends on its specials, which have been reliable but nothing is forever.
I don't expect to be adding again.

V8

[jackdaww]

I was wondering if today might be opportune for a top up in Admiral (Munich Re selling off £12m shares with subsequent shareprice fall/yield on offer increase)?

=============================

you can have mine - just sold the lot .

Why was that? Focussing somewhere else, perhaps?

As for me, After some pickering, I made a small trimming in mid September and even with the price drop since then, they are still at 1.5x median weight and provide 6.6% of my forecast income (I hope!).

Arb.

=====================================

i didnt notice i was on the HYP board when posting .

however its nothing sinister , just part of my general trending away from my few remaining value type stocks into mostly global IT's and some smaller UK growth stocks.

[Dod101]

..some more info on the sale.
https://www.reinsurancene.ws/munich-re- ... ding-to-6/

Well that gives a degree of comfort, depending of course on the terms. Whether the extensions to 2023, 2026, 2029 are binding on both parties or the sort of long term agreement that binds only party, one does not know.

Unusually for me, I trimmed Admiral near their peak based on their capital value, but then undid that by suggesting that OH should buy them, which she did at a lower price a few days later and is now well underwater.

Admiral's attraction depends on its specials, which have been reliable but nothing is forever.
I don't expect to be adding again.

V8

There speaks a true HYPer (as is right of course on the HYP Board) but even for a HYPer, surely the recent capital appreciation is of some comfort?

Anyway, unless they suddenly lose their touch I think the specials should continue. Remember the last announcement when they mad an even bigger release than normal? These releases from earlier years is the direct result of what must be deliberate over reserving of claims made. There seems no sign of that changing and of course once an insurer is in that happy position there is no reason why they would want to change it. it enables them to hang on to cash for longer, keeps their reinsurers happy, and of course shareholders when they eventually make the releases. It also I assume postpones tax payments.

Admiral is an entirely unconventional insurer based fundamentally on the co-operation of their reinsurers and coinsurers, led of course by Munichre.

Dod