Admiral Group downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Kamran Hossain downgraded Admiral Group (AMIGY) to Underweight from Neutral with a price target of 3,000 GBp, down from 3,050 GBp. The firm adjusted ratings in the European insurance space as part of its 2026 outlook. It is less positive on the sector in 2026 after two years of outperformance. With relative valuations “now stretched and earnings momentum stalling, the sector’s total return outlook looks more limited than in prior years,” the analyst tells investors in a research note. JPMorgan says investors should focus on restructuring catalysts, strong capital returns, and stocks that can beat consensus growth or margin expectations.