Markel Co. (NYSE:MKL) – Analysts at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for shares of Markel in a research report issued to clients and investors on Wednesday, October 31st. SunTrust Banks analyst M. Hughes now anticipates that the insurance provider will post earnings of $29.47 per share for the year, down from their prior forecast of $38.04. SunTrust Banks also issued estimates for Markel’s Q4 2018 earnings at $4.39 EPS and Q1 2019 earnings at $9.49 EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded 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. ValuEngine cut Markel from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Four equities research 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 has a consensus rating of “Buy” and an average target price of $1,265.25.
NYSE:MKL opened at $1,105.95 on Monday. Markel has a fifty-two week low of $1,020.00 and a fifty-two week high of $1,228.32. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.31. The stock has a market cap of $14.99 billion, a PE ratio of 305.51 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 for the quarter, beating 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 business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion.
In other Markel news, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $1,190.55, for a total value of $119,055.00. Following the sale, the insider now owns 23,650 shares in the company, valued at approximately $28,156,507.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Steven A. Markel sold 200 shares of the business’s 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 value of $239,780.00. Following the completion of the sale, the insider now owns 103,440 shares in the company, valued at approximately $124,014,216. The disclosure for this sale can be found here. Insiders have sold a total of 1,149 shares of company stock worth $1,362,085 in the last quarter. 2.46% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in Markel by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after acquiring an additional 6,453 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Markel by 1.1% in the 2nd quarter. Baillie Gifford & Co. now owns 550,655 shares of the insurance provider’s stock valued at $597,103,000 after acquiring an additional 6,226 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Markel by 10.4% in the 2nd quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after acquiring an additional 18,680 shares in the last quarter. Bessemer Group Inc. lifted its stake in Markel by 1.1% in the 3rd quarter. Bessemer Group Inc. now owns 186,986 shares of the insurance provider’s stock valued at $222,231,000 after acquiring an additional 2,032 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Markel by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 181,960 shares of the insurance provider’s stock valued at $216,258,000 after acquiring an additional 10,850 shares in the last quarter. Hedge funds and other institutional investors own 75.83% 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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