Markel Co. (NYSE:MKL) Short Interest Down 15.8% in May

Markel Co. (NYSE:MKL – Get Rating) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 116,300 shares, a decline of 15.8% from the May 15th total of 138,100 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 62,000 shares, the days-to-cover ratio is presently 1.9 days.

Shares of MKL stock opened at $1,282.20 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.66 and a current ratio of 0.66. Markel has a fifty-two week low of $1,155.00 and a fifty-two week high of $1,519.24. The stock has a 50 day moving average price of $1,375.00 and a two-hundred day moving average price of $1,318.26. The company has a market capitalization of $17.40 billion, a P/E ratio of 10.02 and a beta of 0.74.

Markel (NYSE:MKL – Get Rating) last announced its earnings results on Tuesday, April 26th. The insurance provider reported $11.33 EPS for the quarter, missing analysts’ consensus estimates of $16.79 by ($5.46). The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.75 billion. Markel had a net margin of 14.33% and a return on equity of 6.30%. During the same quarter in the prior year, the company earned $10.12 EPS. As a group, equities analysts predict that Markel will post 72.97 earnings per share for the current year.

In other news, Director Steven A. Markel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $1,486.02, for a total transaction of $2,229,030.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A. Lynne Puckett acquired 78 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were acquired at an average cost of $1,319.71 per share, with a total value of $102,937.38. Following the acquisition, the director now directly owns 603 shares of the company’s stock, valued at approximately $795,785.13. The disclosure for this purchase can be found here. Insiders have acquired a total of 208 shares of company stock valued at $272,649 in the last ninety days. Insiders own 1.74% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Paragon Private Wealth Management LLC bought a new position in shares of Markel during the first quarter valued at approximately $306,000. J.W. Cole Advisors Inc. raised its holdings in Markel by 44.1% in the first quarter. J.W. Cole Advisors Inc. now owns 294 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 90 shares in the last quarter. American Trust bought a new position in Markel in the first quarter worth $205,000. Teachers Retirement System of The State of Kentucky raised its holdings in Markel by 5.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,826 shares of the insurance provider’s stock worth $8,595,000 after purchasing an additional 318 shares in the last quarter. Finally, First National Bank of Omaha raised its holdings in Markel by 19.0% in the first quarter. First National Bank of Omaha now owns 12,222 shares of the insurance provider’s stock worth $18,030,000 after purchasing an additional 1,952 shares in the last quarter. Institutional investors own 77.07% of the company’s stock.

MKL has been the subject of several research reports. StockNews.com initiated coverage on Markel in a research note on Thursday, March 31st. They issued a “hold” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Markel in a research note on Wednesday, April 27th. Finally, Truist Financial boosted their price objective on Markel from $1,400.00 to $1,500.00 in a research report on Thursday, April 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Markel currently has a consensus rating of “Hold” and a consensus target price of $1,525.00.

About Markel (Get Rating)

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, 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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