BUZZ-Admiral: lags peers after Citi cuts rating
** Motor insurer's shares down 2 pct, second-largest loser on bluechip FTSE 100 index after Citigroup (NYSE: C - news) cuts rating on stock to "sell" from "neutral", TP to 1335p from 1354p
** Citi highlights competitive market puts increasing pressure on co's dividend, adding its inherently high payout ratio is also of concern
** Stock easily worst performer on FTSE 350 Non-life Insurance Index, which is down 0.2 pct, with peers esure down 0.2 pct and Direct Line up 0.6 pct
** Fall has wiped out all of stock's gains since June 9, when Channel 4 Dispatches investigation into co's price comparison site sent the stock down to 3 mth lows (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)