US Bancorp DE trimmed its stake in shares of Markel Co. (NYSE:MKL – Get Rating) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,852 shares of the insurance provider’s stock after selling 57 shares during the quarter. US Bancorp DE’s holdings in Markel were worth $3,688,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Smith Salley & Associates raised its holdings in shares of Markel by 4.0% during the 2nd quarter. Smith Salley & Associates now owns 9,808 shares of the insurance provider’s stock worth $12,683,000 after buying an additional 380 shares in the last quarter. Walker Asset Management LLC acquired a new position in shares of Markel during the 2nd quarter worth $1,158,000. Baker Tilly Wealth Management LLC raised its holdings in shares of Markel by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 700 shares of the insurance provider’s stock worth $905,000 after buying an additional 19 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Markel by 0.4% during the 2nd quarter. National Bank of Canada FI now owns 2,779 shares of the insurance provider’s stock worth $3,607,000 after buying an additional 11 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Markel by 30.4% during the 2nd quarter. CWM LLC now owns 133 shares of the insurance provider’s stock worth $172,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. TheStreet cut Markel from a “b-” rating to a “c” rating in a report on Friday, August 5th. Royal Bank of Canada lowered their target price on Markel from $1,650.00 to $1,600.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. Truist Financial lowered their target price on Markel from $1,500.00 to $1,300.00 and set a “hold” rating for the company in a report on Friday, August 5th. Finally, StockNews.com began coverage on Markel in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,450.00.
Markel Trading Up 0.0 %
Shares of MKL stock opened at $1,120.81 on Monday. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 636.83 and a beta of 0.73. The stock has a 50-day moving average of $1,172.90 and a 200-day moving average of $1,275.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.37. Markel Co. has a 1-year low of $1,064.09 and a 1-year high of $1,519.24.
Markel (NYSE:MKL – Get Rating) last announced its earnings results on Tuesday, August 2nd. The insurance provider reported $13.78 EPS for the quarter, missing the consensus estimate of $21.43 by ($7.65). Markel had a net margin of 0.83% and a return on equity of 6.03%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the company earned $19.14 EPS. On average, equities research analysts forecast that Markel Co. will post 67.04 earnings per share for the current year.
Insider Activity at Markel
In other Markel news, Director A. Lynne Puckett bought 48 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were bought at an average price of $1,196.54 per share, for a total transaction of $57,433.92. Following the transaction, the director now directly owns 873 shares in the company, valued at $1,044,579.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Markel news, Director A. Lynne Puckett bought 48 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were bought at an average price of $1,196.54 per share, for a total transaction of $57,433.92. Following the transaction, the director now directly owns 873 shares in the company, valued at $1,044,579.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Sinnickson Gayner bought 50 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average price of $1,202.46 per share, for a total transaction of $60,123.00. Following the transaction, the chief executive officer now owns 42,077 shares in the company, valued at $50,595,909.42. The disclosure for this purchase can be found here. Insiders have acquired a total of 181 shares of company stock worth $218,307 in the last 90 days. Corporate insiders own 1.74% of the company’s stock.
About Markel
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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. Its Insurance segment offers general and professional liability, personal lines, marine and energy, specialty programs, and workers’ compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.
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