UK's Admiral falls after Peel Hunt cuts price target

** Shares of British insurer Admiral Group ADML.L down 2.4% at 3,658 p

** Stock is top loser in FTSE 100 .FTSE

** Peel Hunt cuts ADML's target price to 2,460p from 2,620p

** "We believe Admiral's policy volume gains will erode as the company increases UK Motor rates ahead of a competitive market, in order to protect underwriting margins," says Peel Hunt

** Eight of 14 analysts covering the stock have a "buy" or higher rating, 4 has "hold" while 2 rate it at "sell" or lower; median PT is 4,200p - LSEG-compiled data

** YTD, Admiral stock has risen ~16%