Markel Corp. (MKL) Shares Gap Up to $939.45
Shares of Markel Corp. (NYSE:MKL) gapped up before the market opened on Thursday . The stock had previously closed at $938.08, but opened at $939.45. Markel Corp. shares last traded at $941.53, with a volume of 10,835 shares.
MKL has been the topic of a number of research reports. Zacks Investment Research cut shares of Markel Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 14th. William Blair raised shares of Markel Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 14th.
The company has a 50-day moving average price of $939.96 and a 200 day moving average price of $899.17. The firm has a market cap of $13.18 billion and a P/E ratio of 23.95.
Markel Corp. (NYSE:MKL) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $11.15 EPS for the quarter, beating the Zacks’ consensus estimate of $6.79 by $4.36. Equities research analysts forecast that Markel Corp. will post $31.50 EPS for the current year.
In other Markel Corp. news, CEO Richard R. Whitt III sold 200 shares of the stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $962.82, for a total value of $192,564.00. Following the sale, the chief executive officer now directly owns 11,839 shares in the company, valued at approximately $11,398,825.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alan I. Kirshner sold 1,990 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $972.24, for a total transaction of $1,934,757.60. Following the completion of the sale, the chairman now owns 24,971 shares in the company, valued at $24,277,805.04. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Shell Asset Management Co. purchased a new stake in Markel Corp. during the fourth quarter valued at about $1,193,000. Bank of Montreal Can boosted its stake in Markel Corp. by 347.8% in the fourth quarter. Bank of Montreal Can now owns 1,603 shares of the company’s stock valued at $1,417,000 after buying an additional 1,245 shares in the last quarter. Henderson Group PLC boosted its stake in Markel Corp. by 214.5% in the fourth quarter. Henderson Group PLC now owns 1,610 shares of the company’s stock valued at $1,422,000 after buying an additional 1,098 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in Markel Corp. by 488.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 1,961 shares of the company’s stock valued at $1,732,000 after buying an additional 1,628 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Markel Corp. by 4.8% in the fourth quarter. ProShare Advisors LLC now owns 2,294 shares of the company’s stock valued at $2,026,000 after buying an additional 106 shares in the last quarter.
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. The Company monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance.
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