Normura Reiterates Neutral Amlin Rating
Nomura reiterated their neutral rating on shares of Bermuda-based Amlin in a research note issued to investors last Thursday [May 21]. The firm currently has a $7.18 target price on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Westhouse Securities reiterated a neutral rating on shares of Amlin in a research note to investors on Thursday. Separately, analysts at Canaccord Genuity reiterated a buy rating on shares of Amlin in a research note to investors on Monday, May 13th. They now have a $7.07 price target on the stock.
Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $6.59.
Amlin plc is engaged in non-life insurance and reinsurance underwriting in the Lloyd’s market, Bermuda and Continental Europe.
The company grew its top line by seven percent during the first four months of the year, falling short of the 11-12 percent growth reported by its fellow quoted peers Beazley, Catlin and Hiscox, all of which based their interim reports on the first quarter alone.
Amlin’s overall growth was held back by a six percent decline in its European insurance business during the period. In contrast, it reported 12 percent growth in its Lloyd’s and Bermuda segments.
