Korea Investment CORP trimmed its stake in Markel Co. (NYSE:MKL) by 79.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653 shares of the insurance provider’s stock after selling 2,476 shares during the period. Korea Investment CORP’s holdings in Markel were worth $776,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MKL. Palo Capital Inc. purchased a new stake in shares of Markel in the 3rd quarter worth $120,000. Signaturefd LLC increased its stake in shares of 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. Leavell Investment Management Inc. purchased a new stake in shares of Markel in the 3rd quarter worth $208,000. Whitener Capital Management Inc. purchased a new stake in shares of Markel in the 3rd quarter worth $216,000. Finally, Gilbert & Cook Inc. purchased a new stake in shares of Markel in the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective for the company in a research note on Monday, October 8th. ValuEngine lowered Markel from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Boenning Scattergood set a $1,300.00 price objective on Markel and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Markel has a consensus rating of “Buy” and a consensus price target of $1,265.25.
NYSE:MKL opened at $1,048.23 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $15.94 billion, a PE ratio of 17.26 and a beta of 1.01. Markel Co. has a one year low of $1,020.00 and a one year high of $1,228.32.
Markel (NYSE:MKL) last issued its earnings results on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share for the quarter, topping the consensus estimate of $7.05 by $21.45. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Markel had a net margin of 14.03% and a return on equity of 9.72%. Sell-side analysts expect that Markel Co. will post 29.49 EPS for the current fiscal year.
In related news, Vice Chairman Anthony F. Markel sold 149 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $1,090.00, for a total value of $162,410.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lemuel E. Lewis bought 250 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was purchased at an average cost of $1,096.50 per share, with a total value of $274,125.00. Following the acquisition, the director now directly owns 4,848 shares in the company, valued at approximately $5,315,832. The disclosure for this purchase can be found here. Corporate insiders own 2.53% of the company’s stock.
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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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