Daiwa Securities Group Inc. boosted its stake in Markel Co. (NYSE:MKL) by 14.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 538 shares of the insurance provider’s stock after acquiring an additional 68 shares during the period. Daiwa Securities Group Inc.’s holdings in Markel were worth $536,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MKL. Norges Bank bought a new stake in Markel in the fourth quarter valued at $110,736,000. BlackRock Inc. boosted its holdings in shares of Markel by 6.6% during the 4th quarter. BlackRock Inc. now owns 904,635 shares of the insurance provider’s stock valued at $939,056,000 after buying an additional 55,697 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Markel by 421.5% during the 4th quarter. Millennium Management LLC now owns 15,941 shares of the insurance provider’s stock valued at $16,548,000 after buying an additional 20,900 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Markel by 41.9% during the 4th quarter. California Public Employees Retirement System now owns 67,355 shares of the insurance provider’s stock valued at $69,918,000 after buying an additional 19,881 shares in the last quarter. Finally, Isthmus Partners LLC bought a new stake in shares of Markel during the 1st quarter valued at $678,000. Institutional investors and hedge funds own 76.27% of the company’s stock.
In related news, Director Lemuel E. Lewis purchased 100 shares of the stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $1,035.00 per share, with a total value of $103,500.00. Following the transaction, the director now directly owns 5,085 shares in the company, valued at $5,262,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alan I. Kirshner sold 200 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $1,002.50, for a total value of $200,500.00. Following the completion of the transaction, the insider now directly owns 21,985 shares of the company’s stock, valued at approximately $22,039,962.50. The disclosure for this sale can be found here. In the last ninety days, insiders bought 400 shares of company stock valued at $398,556 and sold 1,293 shares valued at $1,297,975. 2.34% of the stock is owned by insiders.
Shares of MKL traded up $15.18 during trading hours on Wednesday, hitting $1,064.97. The company had a trading volume of 61,203 shares, compared to its average volume of 50,966. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $14.67 billion, a PE ratio of 51.87 and a beta of 0.87. Markel Co. has a 52-week low of $950.16 and a 52-week high of $1,228.32.
Markel (NYSE:MKL) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $9.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.41 by ($0.17). The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Markel had a return on equity of 8.76% and a net margin of 6.73%. As a group, sell-side analysts anticipate that Markel Co. will post 36.99 EPS for the current year.
MKL has been the topic of a number of research reports. TheStreet cut shares of Markel from a “b” rating to a “c” rating in a report on Wednesday, February 6th. ValuEngine cut shares of Markel from a “hold” rating to a “sell” rating in a report on Friday, April 5th. SunTrust Banks boosted their target price on shares of Markel to $1,100.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,121.00 target price on the stock in a report on Monday, April 15th. Finally, Deutsche Bank started coverage on shares of Markel in a report on Thursday, May 23rd. They set a “hold” rating and a $1,000.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $1,130.25.
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. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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