Oppenheimer & Co. Inc. grew its holdings in shares of Markel Co. (NYSE:MKL) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 975 shares of the insurance provider’s stock after acquiring an additional 186 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Markel were worth $1,159,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MKL. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Markel during the second quarter worth about $21,427,000. Renaissance Technologies LLC increased its stake in shares of Markel by 10.4% in the second quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after buying an additional 18,680 shares during the period. Janus Henderson Group PLC increased its stake in shares of Markel by 118.9% in the second quarter. Janus Henderson Group PLC now owns 30,897 shares of the insurance provider’s stock valued at $33,505,000 after buying an additional 16,781 shares during the period. California Public Employees Retirement System increased its stake in shares of Markel by 26.7% in the second quarter. California Public Employees Retirement System now owns 37,285 shares of the insurance provider’s stock valued at $40,430,000 after buying an additional 7,855 shares during the period. Finally, Baskin Financial Services Inc. increased its stake in shares of Markel by 2,079.4% in the second quarter. Baskin Financial Services Inc. now owns 7,933 shares of the insurance provider’s stock valued at $8,602,000 after buying an additional 7,569 shares during the period. 75.83% of the stock is owned by hedge funds and other institutional investors.
MKL has been the subject of several recent research reports. ValuEngine raised Markel from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research note on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Markel from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,265.25.
Markel stock opened at $1,079.71 on Monday. Markel Co. has a 1 year low of $1,020.00 and a 1 year high of $1,228.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $14.99 billion, a PE ratio of 298.26 and a beta of 1.01.
Markel (NYSE:MKL) last released its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.05 by $21.45. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Markel had a return on equity of 9.72% and a net margin of 14.03%. On average, sell-side analysts predict that Markel Co. will post 29.49 EPS for the current fiscal year.
In other Markel news, insider Alan I. Kirshner sold 100 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total transaction of $119,055.00. Following the completion of the sale, the insider now owns 23,650 shares of the company’s stock, valued at approximately $28,156,507.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $1,198.90, for a total transaction 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 a total of 1,000 shares of company stock valued at $1,199,675 in the last three months. Insiders own 2.46% 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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