JPMorgan Chase & Co. raised its position in Markel Corporation (NYSE:MKL) by 273.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,153 shares of the insurance provider’s stock after acquiring an additional 3,040 shares during the quarter. JPMorgan Chase & Co.’s holdings in Markel Corporation were worth $4,052,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in MKL. UBS Asset Management Americas Inc. lifted its stake in Markel Corporation by 6.7% in the first quarter. UBS Asset Management Americas Inc. now owns 49,565 shares of the insurance provider’s stock valued at $48,369,000 after buying an additional 3,128 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Markel Corporation by 1.3% during the first quarter. Ameriprise Financial Inc. now owns 11,818 shares of the insurance provider’s stock valued at $11,532,000 after purchasing an additional 152 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Markel Corporation by 14.1% during the first quarter. Pacer Advisors Inc. now owns 299 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 37 shares in the last quarter. KBC Group NV raised its stake in shares of Markel Corporation by 10.7% during the first quarter. KBC Group NV now owns 1,231 shares of the insurance provider’s stock valued at $1,201,000 after purchasing an additional 119 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of Markel Corporation during the first quarter valued at about $235,000. 76.47% of the stock is owned by institutional investors and hedge funds.
In related news, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $1,054.03, for a total value of $105,403.00. Following the sale, the insider now directly owns 25,555 shares of the company’s stock, valued at $26,935,736.65. The transaction was disclosed in a legal filing 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 dated Thursday, October 12th. The stock was sold at an average price of $1,082.68, for a total transaction of $216,536.00. The disclosure for this sale can be found here. Insiders sold 6,227 shares of company stock worth $6,655,526 over the last three months. 2.53% of the stock is owned by insiders.
MKL has been the topic of several research analyst reports. Zacks Investment Research cut Markel Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $1,050.00 target price on shares of Markel Corporation in a research note on Tuesday, October 3rd. ValuEngine upgraded Markel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded Markel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Boenning Scattergood set a $1,050.00 price target on Markel Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $1,050.00.
Markel Corporation (MKL) opened at 1073.25 on Tuesday. Markel Corporation has a one year low of $811.05 and a one year high of $1,105.23. The stock’s 50 day moving average price is $1,054.36 and its 200-day moving average price is $1,007.45. The firm has a market capitalization of $14.93 billion, a price-to-earnings ratio of 37.11 and a beta of 1.03.
Markel Corporation (NYSE:MKL) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $9.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.27 by $3.67. Markel Corporation had a return on equity of 4.81% and a net margin of 7.58%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, equities research analysts expect that Markel Corporation will post $16.11 EPS for the current fiscal year.
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Markel Corporation 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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