Alliancebernstein L.P. reduced its position in Markel Co. (NYSE:MKL) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,856 shares of the insurance provider’s stock after selling 288 shares during the quarter. Alliancebernstein L.P. owned about 0.07% of Markel worth $11,714,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in Markel by 6.7% in the second quarter. Sei Investments Co. now owns 686 shares of the insurance provider’s stock worth $744,000 after purchasing an additional 43 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Markel by 1.6% in the third quarter. State of Alaska Department of Revenue now owns 2,941 shares of the insurance provider’s stock worth $3,494,000 after purchasing an additional 46 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Markel by 4.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 1,065 shares of the insurance provider’s stock worth $1,155,000 after purchasing an additional 48 shares during the last quarter. Colony Group LLC grew its holdings in Markel by 8.2% in the second quarter. Colony Group LLC now owns 661 shares of the insurance provider’s stock worth $717,000 after purchasing an additional 50 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Markel by 0.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,559 shares of the insurance provider’s stock worth $9,282,000 after purchasing an additional 55 shares during the last quarter. 75.61% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on MKL shares. Boenning Scattergood set a $1,300.00 price target on shares of Markel and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine lowered shares of Markel from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Zacks Investment Research raised shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective on the stock in a report on Monday, October 8th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $1,265.25.
Shares of MKL opened at $1,048.23 on Friday. The firm has a market cap of $15.78 billion, a PE ratio of 289.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.59 and a current ratio of 0.59. Markel Co. has a 1-year low of $1,020.00 and a 1-year high of $1,228.32.
Markel (NYSE:MKL) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $21.45. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Markel had a net margin of 14.03% and a return on equity of 9.72%. Sell-side analysts anticipate that Markel Co. will post 29.49 EPS for the current fiscal year.
In related news, Director Lemuel E. Lewis acquired 250 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were purchased at an average cost of $1,096.50 per share, with a total value of $274,125.00. Following the completion of the acquisition, the director now directly owns 4,848 shares of the company’s stock, valued at $5,315,832. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total transaction of $119,055.00. Following the sale, the insider now directly owns 23,650 shares in the company, valued at $28,156,507.50. The disclosure for this sale can be found here. 2.53% of the stock is owned by insiders.
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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. It operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. The U.S. Insurance segment offers general and professional liability, property, personal line, program, and workers' compensation insurance products, as well as other insurance product lines, such as ocean marine, surety, CPI, and coverages.
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