Pittenger & Anderson Inc. boosted its position in Markel Co. (NYSE:MKL) by 1,118.2% in the third quarter, HoldingsChannel reports. The firm owned 804 shares of the insurance provider’s stock after buying an additional 738 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Markel were worth $956,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of MKL. First Mercantile Trust Co. bought a new stake in Markel in the 2nd quarter worth about $109,000. Signaturefd LLC grew its position in Markel by 636.8% in the 2nd quarter. Signaturefd LLC now owns 140 shares of the insurance provider’s stock worth $152,000 after purchasing an additional 121 shares in the last quarter. Ostrum Asset Management bought a new stake in Markel in the 1st quarter worth about $161,000. Laurel Wealth Advisors Inc. bought a new stake in Markel in the 1st quarter worth about $202,000. Finally, Nwam LLC bought a new stake in Markel in the 3rd quarter worth about $221,000. 79.03% of the stock is owned by institutional investors and hedge funds.
In other news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $1,190.40, for a total transaction of $238,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard R. Whitt III sold 500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,202.80, for a total transaction of $601,400.00. Following the transaction, the chief executive officer now directly owns 10,444 shares of the company’s stock, valued at $12,562,043.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,400 shares of company stock valued at $1,665,455 over the last three months. Insiders own 2.46% of the company’s stock.
A number of brokerages have issued reports on MKL. Zacks Investment Research raised shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective for the company in a research report on Monday, October 8th. ValuEngine raised shares of Markel from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research report on Wednesday, August 1st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,252.75.
Markel stock opened at $1,131.20 on Friday. Markel Co. has a twelve month low of $1,049.95 and a twelve month high of $1,228.32. The company has a market cap of $16.50 billion, a PE ratio of 312.49 and a beta of 0.96. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.32.
Markel (NYSE:MKL) last released its earnings results on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.49 by $11.48. Markel had a net margin of 5.79% and a return on equity of 2.89%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.68 billion. On average, equities analysts expect that Markel Co. will post 39.02 EPS for the current fiscal year.
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.
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