Brokerages expect Markel Co. (NYSE:MKL) to report $1.61 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Markel’s earnings, with the lowest sales estimate coming in at $1.57 billion and the highest estimate coming in at $1.64 billion. Markel posted sales of $1.39 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The business is scheduled to report its next earnings report on Wednesday, April 25th.
On average, analysts expect that Markel will report full year sales of $6.65 billion for the current fiscal year, with estimates ranging from $6.54 billion to $6.81 billion. For the next fiscal year, analysts expect that the business will post sales of $6.94 billion per share, with estimates ranging from $6.77 billion to $7.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Markel.
Markel (NYSE:MKL) last posted its quarterly earnings data on Tuesday, February 6th. The insurance provider reported $6.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.55 by ($1.91). Markel had a return on equity of 0.39% and a net margin of 6.52%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.58 billion.
MKL has been the subject of a number of research reports. ValuEngine cut shares of Markel from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. William Blair upgraded shares of Markel from a “market perform” rating to an “outperform” rating in a report on Monday, March 19th. Zacks Investment Research cut shares of Markel from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada restated a “hold” rating and issued a $1,200.00 price target on shares of Markel in a report on Thursday, February 8th. Finally, Argus initiated coverage on shares of Markel in a report on Wednesday, April 11th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $1,184.25.
Shares of MKL traded up $7.47 during trading hours on Tuesday, hitting $1,158.00. 50,974 shares of the stock were exchanged, compared to its average volume of 34,041. Markel has a fifty-two week low of $936.95 and a fifty-two week high of $1,194.98. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.33. The stock has a market cap of $16,034.83, a PE ratio of 319.89 and a beta of 0.89.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1,143.47, for a total value of $228,694.00. Following the completion of the sale, the insider now directly owns 106,360 shares in the company, valued at $121,619,469.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $1,149.02, for a total transaction of $114,902.00. The disclosure for this sale can be found here. Insiders sold 2,000 shares of company stock valued at $2,245,156 over the last 90 days. Corporate insiders own 2.46% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sather Financial Group Inc grew its holdings in shares of Markel by 0.4% during the fourth quarter. Sather Financial Group Inc now owns 14,520 shares of the insurance provider’s stock valued at $16,540,000 after buying an additional 55 shares during the last quarter. First Personal Financial Services grew its holdings in shares of Markel by 156.1% during the fourth quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock valued at $120,000 after buying an additional 64 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Markel by 6.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,280 shares of the insurance provider’s stock valued at $1,373,000 after buying an additional 80 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Markel by 3.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,559 shares of the insurance provider’s stock valued at $2,915,000 after buying an additional 87 shares during the last quarter. Finally, Simplex Trading LLC grew its holdings in shares of Markel by 169.1% during the fourth quarter. Simplex Trading LLC now owns 148 shares of the insurance provider’s stock valued at $168,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 78.04% of the company’s stock.
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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. 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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