World Asset Management Inc Boosts Stake in Markel Corporation (MKL)
World Asset Management Inc boosted its stake in Markel Corporation (NYSE:MKL) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522 shares of the insurance provider’s stock after buying an additional 20 shares during the period. World Asset Management Inc’s holdings in Markel Corporation were worth $509,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MKL. Guggenheim Capital LLC raised its position in shares of Markel Corporation by 8.8% in the fourth quarter. Guggenheim Capital LLC now owns 385 shares of the insurance provider’s stock valued at $348,000 after buying an additional 31 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Markel Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 14,911 shares of the insurance provider’s stock valued at $13,487,000 after buying an additional 622 shares in the last quarter. Creative Planning raised its position in shares of Markel Corporation by 12.6% in the first quarter. Creative Planning now owns 1,689 shares of the insurance provider’s stock valued at $1,648,000 after buying an additional 189 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Markel Corporation by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 4,202 shares of the insurance provider’s stock valued at $4,100,000 after buying an additional 65 shares in the last quarter. Finally, National Pension Service raised its position in shares of Markel Corporation by 5.1% in the first quarter. National Pension Service now owns 12,877 shares of the insurance provider’s stock valued at $12,484,000 after buying an additional 629 shares in the last quarter. 76.38% of the stock is owned by hedge funds and other institutional investors.
Markel Corporation (NYSE MKL) opened at 1050.89 on Friday. Markel Corporation has a 52-week low of $811.05 and a 52-week high of $1,086.68. The company’s 50-day moving average price is $1,007.67 and its 200-day moving average price is $975.29. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 36.34 and a beta of 1.03.
Markel Corporation (NYSE:MKL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $9.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $3.67. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Markel Corporation had a return on equity of 4.81% and a net margin of 7.58%. Equities research analysts expect that Markel Corporation will post $28.59 EPS for the current fiscal year.
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Several research analysts have recently issued reports on MKL shares. Zacks Investment Research lowered Markel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. ValuEngine raised Markel Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered Markel Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Boenning Scattergood set a $1,050.00 target price on Markel Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Markel Corporation presently has an average rating of “Hold” and a consensus price target of $1,050.00.
In related news, EVP Bradley James Kiscaden sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $1,074.56, for a total value of $376,096.00. Following the completion of the transaction, the executive vice president now owns 6,817 shares of the company’s stock, valued at $7,325,275.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard R. Whitt III sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $1,085.31, for a total transaction of $108,531.00. Following the completion of the transaction, the chief executive officer now directly owns 12,239 shares of the company’s stock, valued at approximately $13,283,109.09. The disclosure for this sale can be found here. Insiders sold 4,525 shares of company stock valued at $4,859,750 in the last three months. 2.53% of the stock is currently owned by insiders.
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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