Jupiter Asset Management Ltd. increased its stake in shares of Markel Co. (NYSE:MKL) by 84.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,997 shares of the insurance provider’s stock after buying an additional 3,208 shares during the period. Jupiter Asset Management Ltd. owned about 0.05% of Markel worth $8,003,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Reby Advisors LLC purchased a new stake in shares of Markel in the fourth quarter valued at about $26,000. Crewe Advisors LLC lifted its holdings in shares of Markel by 60.0% in the first quarter. Crewe Advisors LLC now owns 24 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 9 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in shares of Markel by 33.3% in the first quarter. Carmichael Hill & Associates Inc. now owns 40 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 10 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Markel in the first quarter valued at about $52,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Markel in the first quarter valued at about $54,000. 76.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director A. Lynne Puckett purchased 82 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The stock was purchased at an average price of $1,195.35 per share, with a total value of $98,018.70. Following the completion of the transaction, the director now owns 337 shares of the company’s stock, valued at approximately $402,832.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Markel sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $1,199.36, for a total transaction of $1,799,040.00. Following the transaction, the director now directly owns 88,352 shares of the company’s stock, valued at approximately $105,965,854.72. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock valued at $4,802,524 in the last ninety days. 1.97% of the stock is currently owned by company insiders.
Markel (NYSE:MKL) last announced its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $10.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.37 by ($1.25). The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Markel had a net margin of 22.62% and a return on equity of 5.69%. As a group, equities research analysts expect that Markel Co. will post 56.63 earnings per share for the current fiscal year.
Several analysts have issued reports on the stock. Truist Financial reduced their price target on shares of Markel from $1,350.00 to $1,150.00 in a report on Tuesday, April 13th. Zacks Investment Research downgraded shares of Markel from a “strong-buy” rating to a “sell” rating and set a $1,245.00 price objective on the stock. in a research note on Tuesday, April 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $1,144.00.
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, Latin America, 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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