SunTrust Banks Raises Markel (MKL) Price Target to $1,200.00

Markel (NYSE:MKL) had its price objective upped by equities researchers at SunTrust Banks to $1,200.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “hold” rating on the insurance provider’s stock. SunTrust Banks’ price objective indicates a potential upside of 9.62% from the stock’s current price.

Several other equities research analysts have also recently issued reports on MKL. Boenning Scattergood reissued a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Markel from a “hold” rating to a “buy” rating and set a $1,253.00 target price on the stock in a research report on Friday, January 5th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Markel in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Markel presently has an average rating of “Hold” and a consensus price target of $1,134.50.

Markel (NYSE MKL) traded down $9.21 on Thursday, hitting $1,094.71. 14,144 shares of the company traded hands, compared to its average volume of 41,680. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.55 and a quick ratio of 0.55. Markel has a twelve month low of $612.00 and a twelve month high of $1,157.30. The firm has a market capitalization of $15,260.00, a PE ratio of 42.51 and a beta of 0.95.

In related news, EVP Anne G. Waleski sold 838 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $1,102.48, for a total value of $923,878.24. Following the transaction, the executive vice president now owns 4,150 shares in the company, valued at $4,575,292. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $1,143.47, for a total transaction of $228,694.00. Following the completion of the transaction, the insider now owns 106,360 shares in the company, valued at approximately $121,619,469.20. The disclosure for this sale can be found here. Insiders sold 2,138 shares of company stock worth $2,373,344 in the last 90 days. 2.53% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MKL. Mar Vista Investment Partners LLC raised its stake in shares of Markel by 15.9% during the fourth quarter. Mar Vista Investment Partners LLC now owns 133,921 shares of the insurance provider’s stock valued at $152,553,000 after purchasing an additional 18,326 shares during the period. Swiss National Bank raised its stake in shares of Markel by 1.6% during the fourth quarter. Swiss National Bank now owns 83,890 shares of the insurance provider’s stock valued at $95,562,000 after purchasing an additional 1,300 shares during the period. California Public Employees Retirement System raised its stake in shares of Markel by 8.3% during the fourth quarter. California Public Employees Retirement System now owns 31,866 shares of the insurance provider’s stock valued at $36,300,000 after purchasing an additional 2,432 shares during the period. M&T Bank Corp raised its stake in shares of Markel by 15.9% during the fourth quarter. M&T Bank Corp now owns 5,421 shares of the insurance provider’s stock valued at $6,176,000 after purchasing an additional 743 shares during the period. Finally, Anchor Capital Advisors LLC raised its stake in shares of Markel by 15.8% during the fourth quarter. Anchor Capital Advisors LLC now owns 25,459 shares of the insurance provider’s stock valued at $29,001,000 after purchasing an additional 3,473 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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Markel 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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