Q1 2018 EPS Estimates for Markel Co. (MKL) Lowered by Boenning Scattergood
Markel Co. (NYSE:MKL) – Equities research analysts at Boenning Scattergood reduced their Q1 2018 EPS estimates for shares of Markel in a research report issued on Wednesday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings of $9.25 per share for the quarter, down from their prior estimate of $9.65. Boenning Scattergood has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Markel’s Q2 2018 earnings at $8.60 EPS, Q3 2018 earnings at $8.46 EPS, FY2018 earnings at $37.00 EPS and FY2019 earnings at $37.00 EPS.
Several other research analysts have also recently weighed in on the stock. SunTrust Banks reiterated a “hold” rating and set a $1,100.00 price target on shares of Markel in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,253.00 target price on the stock in a research note on Friday, January 5th. Finally, Royal Bank of Canada restated a “hold” rating and set a $1,200.00 target price on shares of Markel in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $1,172.00.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $1,078.70, for a total value of $215,740.00. Following the sale, the insider now owns 108,761 shares in the company, valued at approximately $117,320,490.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $1,133.50, for a total transaction of $113,350.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,138 shares of company stock worth $2,373,344. Corporate insiders own 2.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MKL. Nationwide Fund Advisors lifted its stake in Markel by 50.0% in the 2nd quarter. Nationwide Fund Advisors now owns 3,000 shares of the insurance provider’s stock worth $2,928,000 after purchasing an additional 1,000 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Markel by 4.7% in the 2nd quarter. Nordea Investment Management AB now owns 397 shares of the insurance provider’s stock worth $387,000 after buying an additional 18 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Markel in the 2nd quarter worth about $231,000. Virtu KCG Holdings LLC increased its holdings in shares of Markel by 64.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 397 shares of the insurance provider’s stock worth $387,000 after buying an additional 155 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Markel by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 55,002 shares of the insurance provider’s stock worth $53,671,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.
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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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