F. Michael Crowley Sells 302 Shares of Markel Corporation (MKL) Stock
Markel Corporation (NYSE:MKL) Vice Chairman F. Michael Crowley sold 302 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $1,047.20, for a total transaction of $316,254.40. Following the transaction, the insider now owns 6,956 shares of the company’s stock, valued at approximately $7,284,323.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Markel Corporation (NYSE MKL) traded up 0.66% on Wednesday, hitting $1060.12. 14,604 shares of the stock were exchanged. The company has a market capitalization of $14.75 billion, a PE ratio of 36.66 and a beta of 1.03. Markel Corporation has a 1-year low of $811.05 and a 1-year high of $1,086.68. The company has a 50-day moving average price of $1,015.67 and a 200 day moving average price of $978.88.
Markel Corporation (NYSE:MKL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $9.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Analysts anticipate that Markel Corporation will post $28.59 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in MKL. Buffington Mohr McNeal acquired a new position in shares of Markel Corporation during the second quarter valued at about $475,000. Bank of America Corp DE boosted its position in shares of Markel Corporation by 9.4% in the first quarter. Bank of America Corp DE now owns 78,256 shares of the insurance provider’s stock valued at $76,367,000 after buying an additional 6,700 shares during the period. Virtu Financial LLC acquired a new position in shares of Markel Corporation during the second quarter valued at about $463,000. Cambridge Trust Co. acquired a new position in shares of Markel Corporation during the first quarter valued at about $449,000. Finally, Gulf International Bank UK Ltd boosted its position in shares of Markel Corporation by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 4,202 shares of the insurance provider’s stock valued at $4,100,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 76.51% of the company’s stock.
MKL has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Markel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. ValuEngine upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut shares of Markel Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, Boenning Scattergood set a $1,050.00 target price on shares of Markel Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Markel Corporation currently has an average rating of “Hold” and an average target price of $1,050.00.
About Markel Corporation
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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