3 More FTSE 100 Shares for the Week Ahead

LONDON -- Reporting season continues next week for companies with years ending December 2012. We've already brought you a look at three FTSE 100 companies reporting on Monday and Tuesday, so here are three more due to report on Wednesday, including two of our big insurers.

Admiral (LSE: ADM  )
Motor insurer Admiral Group will report on Wednesday, and forecasts suggest decent earnings growth of 12% to about 92 pence per share. But the big headline item is the forecast dividend yield of 86.6 pence for a whopping yield of 6.9%, barely covered by expected earnings. The company has already paid 45.1 pence of that at the interim stage, telling us that its cash-generative model allowed it to pay out 95% of earnings after pre-tax profit grew by 7% to 172 million pounds.

At interim update time in November, chief executive Henry Engelhardt said:

"Little has changed since the half year. The U.K. car insurance market is cyclical and we are in the softer part of the cycle with premium rates coming down. We believe that the sensible strategy in this part of the cycle is to slow our rate of growth."

Engelhardt also told us the company was on track to meet full-year expectations. Admiral shares stand at 1,249 pence.

Legal & General (LSE: LGEN  )
Life insurer and investment manager Legal & General Group is due to report the same day after what has been a very good year for its share price. From a low of 106 pence in June last year, the price has risen to 157 pence for a gain of 48%.

Forecasts put the shares on a price-to-earnings ratio of 11 and indicate a twice-covered dividend yield of about 4.7%. A modest 1.96 pence was paid as a half-time dividend, though that was a raise of 18%. Earnings per share gained 14% to 6.96 pence.

And in November, the company's interim update told of record third-quarter sales, with assets under management exceeding 390 million pounds, so things are looking good for the full year.

Melrose Industries (LSE: MRO  )
Our third FTSE 100 company reporting Wednesday is Melrose Industries, which specializes in acquiring underperforming manufacturing companies and turning them round.

The share price has soared nearly eightfold from its low of 33 pence in early 2009 to reach 258 pence, though the ride over the past 12 months has been erratic. Melrose's earnings record shows steady year-on-year growth, though, and the company has been steadily increasing its dividend.

That is set to continue, with the City expecting a 15% hike to the dividend for the full year, though in its November update the company told us, "Trading is in line with expectations for 2012, although revenue trends have slowed, and recently the sales outlook for 2013 has become more uncertain."

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