Davy Asset Management Ltd acquired a new stake in Markel Co. (NYSE:MKL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000 shares of the insurance provider’s stock, valued at approximately $1,975,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. acquired a new stake in Markel in the second quarter valued at $109,000. Ostrum Asset Management acquired a new stake in Markel during the 1st quarter worth about $161,000. Laurel Wealth Advisors Inc. acquired a new stake in Markel during the 1st quarter worth about $202,000. Atria Investments LLC acquired a new stake in Markel during the 1st quarter worth about $207,000. Finally, Bridgeworth LLC acquired a new stake in Markel during the 1st quarter worth about $215,000. Institutional investors and hedge funds own 79.13% of the company’s stock.
Shares of Markel stock opened at $1,208.52 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.58 and a quick ratio of 0.58. Markel Co. has a 1-year low of $995.30 and a 1-year high of $1,228.32. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of 62.73 and a beta of 0.95.
Markel (NYSE:MKL) last issued its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.49 by $11.48. Markel had a return on equity of 2.89% and a net margin of 5.79%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.68 billion. sell-side analysts forecast that Markel Co. will post 39.02 earnings per share for the current year.
A number of analysts have weighed in on MKL shares. ValuEngine upgraded Markel from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Boenning Scattergood reiterated a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Markel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $1,237.50.
In other news, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $1,085.92, for a total value of $108,592.00. Following the completion of the sale, the insider now directly owns 23,750 shares in the company, valued at approximately $25,790,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $1,083.74, for a total value of $216,748.00. Following the completion of the sale, the insider now owns 104,180 shares of the company’s stock, valued at $112,904,033.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,300 shares of company stock valued at $1,488,826. Company insiders own 2.53% of the company’s stock.
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.
Featured Article: Understanding Stock Ratings
Receive News & Ratings for Markel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markel and related companies with MarketBeat.com's FREE daily email newsletter.