Markel Corporation (NYSE:MKL) – Stock analysts at Boenning Scattergood issued their FY2019 earnings per share estimates for shares of Markel Corporation in a research report issued to clients and investors on Thursday. Boenning Scattergood analyst R. Farnam forecasts that the insurance provider will post earnings per share of $28.50 for the year. Boenning Scattergood currently has a “Buy” rating and a $1,050.00 target price on the stock.
Markel Corporation (NYSE:MKL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, topping the Zacks’ consensus estimate of $6.27 by $3.67. Markel Corporation had a net margin of 7.58% and a return on equity of 4.81%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion.
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Several other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Markel Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Royal Bank Of Canada restated a “hold” rating and set a $1,050.00 price target on shares of Markel Corporation in a report on Tuesday, October 3rd. Zacks Investment Research cut shares of Markel Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $1,050.00.
In other Markel Corporation news, CEO Richard R. Whitt III sold 100 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $1,085.31, for a total value of $108,531.00. Following the transaction, the chief executive officer now directly owns 12,239 shares in the company, valued at $13,283,109.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Steven A. Markel sold 3,875 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $1,074.48, for a total transaction of $4,163,610.00. Following the completion of the transaction, the insider now owns 109,650 shares in the company, valued at $117,816,732. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,027 shares of company stock worth $6,438,990. Corporate insiders own 2.53% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MKL. Proficio Capital Partners LLC boosted its stake in Markel Corporation by 40.3% in the second quarter. Proficio Capital Partners LLC now owns 94 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 27 shares during the last quarter. Korea Investment CORP boosted its stake in Markel Corporation by 138.9% in the second quarter. Korea Investment CORP now owns 129 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 75 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Markel Corporation in the second quarter valued at about $166,000. Toronto Dominion Bank boosted its stake in Markel Corporation by 11.0% in the second quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 17 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in Markel Corporation by 775.0% in the second quarter. Quantbot Technologies LP now owns 210 shares of the insurance provider’s stock valued at $204,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Markel Corporation Company Profile
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. It monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance. The Company, through its subsidiary Markel Ventures, Inc (Markel Ventures), owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace.
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