Livforsakringsbolaget Skandia Omsesidigt lowered its position in Markel Co. (NYSE:MKL) by 42.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120 shares of the insurance provider’s stock after selling 90 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Markel were worth $143,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MKL. First Mercantile Trust Co. bought a new stake in shares of Markel in the second quarter worth $109,000. Palo Capital Inc. bought a new stake in shares of Markel in the third quarter worth $120,000. Signaturefd LLC grew its holdings in shares of Markel by 636.8% in the second quarter. Signaturefd LLC now owns 140 shares of the insurance provider’s stock worth $152,000 after acquiring an additional 121 shares during the period. Leavell Investment Management Inc. bought a new stake in shares of Markel in the third quarter worth $208,000. Finally, Nwam LLC bought a new stake in shares of Markel in the third quarter worth $221,000. 75.88% of the stock is owned by institutional investors.
In other Markel news, CEO Richard R. Whitt III sold 500 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was 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 $12,562,043.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $1,198.90, for a total value of $239,780.00. Following the sale, the insider now directly owns 103,440 shares of the company’s stock, valued at approximately $124,014,216. The disclosure for this sale can be found here. Insiders have sold 1,000 shares of company stock valued at $1,199,675 in the last three months. 2.53% of the stock is currently owned by corporate insiders.
Shares of MKL opened at $1,079.71 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.59 and a quick ratio of 0.58. Markel Co. has a one year low of $1,020.00 and a one year high of $1,228.32. The firm has a market capitalization of $14.99 billion, a P/E ratio of 298.26 and a beta of 1.01.
Markel (NYSE:MKL) last issued its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $28.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $7.05 by $21.45. Markel had a return on equity of 9.72% and a net margin of 14.03%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.77 billion. Equities research analysts predict that Markel Co. will post 29.49 EPS for the current fiscal year.
Several analysts recently commented on MKL shares. Zacks Investment Research raised Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective for the company in a report on Monday, October 8th. ValuEngine lowered Markel from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Markel has an average rating of “Buy” and an average target price of $1,265.25.
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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