Great Lakes Advisors LLC purchased a new position in shares of Markel Co. (NYSE:MKL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,146 shares of the insurance provider’s stock, valued at approximately $1,362,000.
A number of other large investors have also added to or reduced their stakes in the stock. Sei Investments Co. increased its position in Markel by 6.7% during the second quarter. Sei Investments Co. now owns 686 shares of the insurance provider’s stock worth $744,000 after acquiring an additional 43 shares during the period. State of Alaska Department of Revenue increased its position in Markel by 1.6% during the third quarter. State of Alaska Department of Revenue now owns 2,941 shares of the insurance provider’s stock worth $3,494,000 after acquiring an additional 46 shares during the period. PNC Financial Services Group Inc. increased its position in Markel by 0.5% during the third quarter. PNC Financial Services Group Inc. now owns 8,606 shares of the insurance provider’s stock worth $10,228,000 after acquiring an additional 47 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Markel by 4.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 1,065 shares of the insurance provider’s stock worth $1,155,000 after acquiring an additional 48 shares during the period. Finally, Colony Group LLC increased its position in Markel by 8.2% during the second quarter. Colony Group LLC now owns 661 shares of the insurance provider’s stock worth $717,000 after acquiring an additional 50 shares during the period. 75.61% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on MKL. ValuEngine lowered shares of Markel from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Boenning Scattergood set a $1,300.00 price target on shares of Markel and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research raised shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price target on the stock in a research report on Monday, October 8th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,265.25.
Shares of Markel stock opened at $1,136.46 on Thursday. The stock has a market cap of $15.78 billion, a price-to-earnings ratio of 313.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.59 and a current ratio of 0.59. Markel Co. has a 12-month low of $1,020.00 and a 12-month high of $1,228.32.
Markel (NYSE:MKL) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $21.45. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Markel had a net margin of 14.03% and a return on equity of 9.72%. On average, 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 dated 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 sale, the insider now directly owns 23,650 shares in the company, valued at $28,156,507.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lemuel E. Lewis acquired 250 shares of Markel stock in a transaction on Thursday, November 15th. The shares were purchased at an average price of $1,096.50 per share, for a total transaction of $274,125.00. Following the completion of the purchase, the director now directly owns 4,848 shares of the company’s stock, valued at $5,315,832. The disclosure for this purchase can be found here. Corporate insiders own 2.53% of the company’s stock.
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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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