Markel Co. (NYSE:MKL) – Investment analysts at SunTrust Banks raised their Q2 2019 earnings per share estimates for Markel in a report released on Wednesday, October 31st. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings of $10.09 per share for the quarter, up from their previous forecast of $9.99. SunTrust Banks also issued estimates for Markel’s Q3 2019 earnings at $10.08 EPS, Q4 2019 earnings at $10.12 EPS and FY2019 earnings at $39.79 EPS.
Several other research analysts have also recently issued reports on the stock. Boenning Scattergood set a $1,300.00 target price on shares of Markel and gave the stock a “buy” rating in a report on Wednesday. ValuEngine downgraded shares of Markel from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective on the stock in a report on Monday, October 8th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,265.25.
Shares of Markel stock traded up $19.85 on Friday, hitting $1,086.70. The stock had a trading volume of 617 shares, compared to its average volume of 52,330. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.58 and a current ratio of 0.58. Markel has a one year low of $1,020.00 and a one year high of $1,228.32. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 299.57 and a beta of 0.96.
Markel (NYSE:MKL) last issued its earnings results on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $21.45. Markel had a net margin of 5.79% and a return on equity of 2.89%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion.
In other news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $1,197.20, for a total value of $239,440.00. Following the completion of the sale, the insider now owns 103,650 shares in the company, valued at $124,089,780. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard R. Whitt III sold 500 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $1,202.80, for a total transaction of $601,400.00. Following the completion of the sale, the chief executive officer now owns 10,444 shares of the company’s stock, valued at approximately $12,562,043.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,000 shares of company stock valued at $1,199,675. 2.53% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in MKL. First Mercantile Trust Co. purchased a new stake in Markel during the 2nd quarter valued at $109,000. Palo Capital Inc. bought a new position in shares of Markel during the 3rd quarter valued at approximately $120,000. Signaturefd LLC grew its stake in shares of Markel by 636.8% during the 2nd quarter. Signaturefd LLC now owns 140 shares of the insurance provider’s stock valued at $152,000 after acquiring an additional 121 shares during the period. Leavell Investment Management Inc. bought a new position in shares of Markel during the 3rd quarter valued at approximately $208,000. Finally, Nwam LLC bought a new position in Markel in the 3rd quarter worth approximately $221,000. Institutional investors own 75.88% of the company’s stock.
Markel Company Profile
Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. It operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. The U.S. Insurance segment offers general and professional liability, property, personal line, program, and workers' compensation insurance products, as well as other insurance product lines, such as ocean marine, surety, CPI, and coverages.
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