Markel Co. (NYSE:MKL) – Analysts at William Blair cut their Q3 2018 earnings estimates for shares of Markel in a research report issued on Wednesday, October 3rd. William Blair analyst A. Klauber now expects that the insurance provider will post earnings of $8.72 per share for the quarter, down from their prior forecast of $8.73. William Blair also issued estimates for Markel’s FY2019 earnings at $44.00 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price target on the stock in a research note on Monday. ValuEngine raised shares of Markel from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Markel in a research note on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,252.75.
Markel (NYSE:MKL) last posted its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $19.97 EPS for the quarter, topping the consensus estimate of $8.49 by $11.48. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.68 billion. Markel had a net margin of 5.79% and a return on equity of 2.89%.
Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Markel by 1.0% in the first quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock worth $785,828,000 after purchasing an additional 6,453 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Markel by 1.1% in the second quarter. Baillie Gifford & Co. now owns 550,655 shares of the insurance provider’s stock valued at $597,103,000 after acquiring an additional 6,226 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Markel by 115,809.3% in the first quarter. Summit Trail Advisors LLC now owns 224,864 shares of the insurance provider’s stock valued at $225,000 after acquiring an additional 224,670 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Markel by 10.4% in the second quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after acquiring an additional 18,680 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Markel by 1.5% in the second quarter. Bessemer Group Inc. now owns 184,954 shares of the insurance provider’s stock valued at $200,555,000 after acquiring an additional 2,707 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.
In other news, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total value of $119,055.00. Following the transaction, the insider now owns 23,650 shares in the company, valued at $28,156,507.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $1,138.50, for a total transaction of $227,700.00. Following the completion of the transaction, the insider now owns 104,020 shares in the company, valued at approximately $118,426,770. The disclosure for this sale can be found here. Insiders sold 1,400 shares of company stock worth $1,665,455 in the last 90 days. Company insiders own 2.46% of the company’s stock.
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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