First Mercantile Trust Co. cut its position in shares of Markel Co. (NYSE:MKL) by 28.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90 shares of the insurance provider’s stock after selling 36 shares during the quarter. First Mercantile Trust Co.’s holdings in Markel were worth $90,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MKL. Heritage Wealth Advisors boosted its position in Markel by 27.8% during the 4th quarter. Heritage Wealth Advisors now owns 23,272 shares of the insurance provider’s stock worth $24,157,000 after acquiring an additional 5,058 shares during the period. Clarkston Capital Partners LLC increased its stake in shares of Markel by 3.8% during the first quarter. Clarkston Capital Partners LLC now owns 46,835 shares of the insurance provider’s stock worth $46,659,000 after purchasing an additional 1,717 shares during the period. LPL Financial LLC increased its stake in shares of Markel by 6.4% during the fourth quarter. LPL Financial LLC now owns 1,256 shares of the insurance provider’s stock worth $1,304,000 after purchasing an additional 76 shares during the period. Two Sigma Securities LLC bought a new position in shares of Markel during the fourth quarter worth approximately $305,000. Finally, Redmond Asset Management LLC increased its stake in shares of Markel by 0.9% during the fourth quarter. Redmond Asset Management LLC now owns 6,134 shares of the insurance provider’s stock worth $6,367,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 76.22% of the company’s stock.
MKL has been the topic of a number of research analyst reports. TheStreet upgraded Markel from a “c” rating to a “b-” rating in a research note on Thursday, May 9th. Zacks Investment Research raised shares of Markel from a “hold” rating to a “buy” rating and set a $1,121.00 price objective for the company in a research report on Monday, April 15th. SunTrust Banks boosted their price objective on shares of Markel to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Markel from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank started coverage on shares of Markel in a research report on Thursday, May 23rd. They issued a “hold” rating and a $1,000.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $1,130.25.
Markel stock traded up $6.40 during trading on Friday, reaching $1,087.72. The stock had a trading volume of 17,800 shares, compared to its average volume of 49,164. Markel Co. has a 52-week low of $950.16 and a 52-week high of $1,228.32. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $14.94 billion, a P/E ratio of 52.98 and a beta of 0.83.
Markel (NYSE:MKL) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $9.24 EPS for the quarter, missing the consensus estimate of $9.41 by ($0.17). Markel had a net margin of 6.73% and a return on equity of 8.76%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. As a group, research analysts anticipate that Markel Co. will post 37.72 earnings per share for the current fiscal year.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $1,000.00, for a total value of $200,000.00. Following the transaction, the insider now directly owns 100,935 shares in the company, valued at approximately $100,935,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Steven A. Markel sold 100 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $1,000.00, for a total transaction of $100,000.00. Following the completion of the transaction, the insider now owns 100,935 shares in the company, valued at $100,935,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043 shares of company stock valued at $1,048,642. 2.34% of the stock is owned by insiders.
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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. 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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