Oppenheimer Asset Management Inc. raised its stake in Markel Corporation (NYSE:MKL) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,501 shares of the insurance provider’s stock after acquiring an additional 28 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Markel Corporation were worth $1,466,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Markel Corporation by 4,055.3% in the first quarter. BlackRock Inc. now owns 832,548 shares of the insurance provider’s stock valued at $812,449,000 after acquiring an additional 812,512 shares during the period. Vanguard Group Inc. raised its stake in shares of Markel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,101,085 shares of the insurance provider’s stock worth $1,074,505,000 after buying an additional 45,773 shares during the period. Wellington Management Group LLP raised its stake in shares of Markel Corporation by 7.7% in the first quarter. Wellington Management Group LLP now owns 418,485 shares of the insurance provider’s stock worth $408,382,000 after buying an additional 30,073 shares during the period. Marathon Asset Management LLP raised its stake in shares of Markel Corporation by 177.7% in the second quarter. Marathon Asset Management LLP now owns 39,013 shares of the insurance provider’s stock worth $38,066,000 after buying an additional 24,962 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Markel Corporation by 3.7% during the 2nd quarter. Principal Financial Group Inc. now owns 659,167 shares of the insurance provider’s stock valued at $643,254,000 after purchasing an additional 23,417 shares during the period. 76.63% of the stock is currently owned by institutional investors.
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Several equities analysts have weighed in on the company. BidaskClub cut Markel Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. ValuEngine raised Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Boenning Scattergood set a $1,050.00 price target on Markel Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $1,050.00.
In other news, Vice Chairman Steven A. Markel sold 3,875 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $1,074.48, for a total value of $4,163,610.00. Following the completion of the transaction, the insider now directly owns 109,650 shares in the company, valued at $117,816,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan I. Kirshner sold 100 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $1,054.03, for a total transaction of $105,403.00. Following the completion of the transaction, the insider now owns 25,555 shares of the company’s stock, valued at $26,935,736.65. The disclosure for this sale can be found here. Insiders sold 5,727 shares of company stock valued at $6,118,092 over the last quarter. Insiders own 2.53% of the company’s stock.
Markel Corporation (NYSE:MKL) traded up 0.70% on Friday, hitting $1044.01. The stock had a trading volume of 1,282 shares. The company has a market cap of $14.52 billion, a P/E ratio of 36.10 and a beta of 1.04. The firm’s 50-day moving average is $1,048.00 and its 200-day moving average is $992.90. Markel Corporation has a 52-week low of $811.05 and a 52-week high of $1,086.68.
Markel Corporation (NYSE:MKL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, topping the consensus estimate of $6.27 by $3.67. Markel Corporation had a net margin of 7.58% and a return on equity of 4.81%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Equities research analysts anticipate that Markel Corporation will post $27.56 earnings per share for the current fiscal year.
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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