Markel Co. (NYSE:MKL) – SunTrust Banks raised their Q1 2018 EPS estimates for Markel in a report issued on Wednesday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings per share of $8.06 for the quarter, up from their prior estimate of $7.71. SunTrust Banks has a “Hold” rating and a $1,200.00 price target on the stock. SunTrust Banks also issued estimates for Markel’s Q2 2018 earnings at $8.23 EPS, Q3 2018 earnings at $8.66 EPS, Q4 2018 earnings at $8.66 EPS, FY2018 earnings at $33.61 EPS, Q1 2019 earnings at $8.80 EPS, Q2 2019 earnings at $9.00 EPS, Q3 2019 earnings at $9.41 EPS and Q4 2019 earnings at $9.41 EPS.
A number of other research analysts have also recently weighed in on MKL. Royal Bank of Canada reaffirmed a “hold” rating and set a $1,200.00 price objective on shares of Markel in a research report on Thursday. Zacks Investment Research cut Markel from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $1,172.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Personal Financial Services raised its holdings in shares of Markel by 156.1% during the 4th quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock worth $120,000 after acquiring an additional 64 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Markel during the 4th quarter worth approximately $122,000. Toronto Dominion Bank raised its holdings in shares of Markel by 11.0% during the 2nd quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock worth $167,000 after acquiring an additional 17 shares in the last quarter. Simplex Trading LLC raised its holdings in shares of Markel by 169.1% during the 4th quarter. Simplex Trading LLC now owns 148 shares of the insurance provider’s stock worth $168,000 after acquiring an additional 93 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in shares of Markel during the 4th quarter worth approximately $201,000. 76.82% of the stock is currently owned by institutional investors.
In related news, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $1,133.50, for a total value of $113,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven A. Markel sold 200 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1,143.47, for a total value of $228,694.00. Following the completion of the transaction, the insider now directly owns 106,360 shares in the company, valued at $121,619,469.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,138 shares of company stock worth $2,373,344. 2.53% of the stock is owned by insiders.
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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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