Smith Salley & Associates boosted its stake in shares of Markel Co. (NYSE:MKL) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,031 shares of the insurance provider’s stock after purchasing an additional 84 shares during the period. Smith Salley & Associates’ holdings in Markel were worth $3,602,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in Markel during the 2nd quarter valued at about $109,000. Palo Capital Inc. bought a new stake in Markel during the 3rd quarter valued at about $120,000. Signaturefd LLC lifted its holdings in Markel by 636.8% during the 2nd quarter. Signaturefd LLC now owns 140 shares of the insurance provider’s stock valued at $152,000 after buying an additional 121 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in Markel during the 3rd quarter valued at about $208,000. Finally, Nwam LLC bought a new stake in Markel during the 3rd quarter valued at about $221,000. Institutional investors own 75.83% of the company’s stock.
NYSE MKL opened at $1,121.99 on Friday. 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 $15.65 billion, a price-to-earnings ratio of 309.94 and a beta of 1.01. Markel Co. has a one year low of $1,020.00 and a one year high of $1,228.32.
Markel (NYSE:MKL) last posted its earnings results on Tuesday, October 30th. The insurance provider reported $28.50 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $21.45. The business 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, equities research analysts expect that Markel Co. will post 29.49 EPS for the current year.
In other news, Vice Chairman Steven A. Markel sold 200 shares of Markel 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 transaction, the insider now owns 103,440 shares of the company’s stock, valued at approximately $124,014,216. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard R. Whitt III sold 500 shares of Markel stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 10,444 shares in the company, valued at approximately $12,562,043.20. 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 three months. Insiders own 2.53% of the company’s stock.
A number of brokerages recently weighed in on MKL. Zacks Investment Research lowered shares of Markel from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine downgraded shares of Markel from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Markel in a research report on Wednesday, August 1st. Four investment 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,265.25.
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.
Further Reading: Fundamental Analysis and Individual Investors
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