SunTrust Banks Comments on Markel Co.’s FY2019 Earnings (MKL)
Markel Co. (NYSE:MKL) – Research analysts at SunTrust Banks issued their FY2019 earnings estimates for shares of Markel in a report released on Wednesday. SunTrust Banks analyst M. Hughes anticipates that the insurance provider will post earnings of $36.63 per share for the year. SunTrust Banks has a “Hold” rating and a $1,200.00 price objective on the stock.
MKL has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,253.00 price target for the company in a report on Friday, January 5th. Royal Bank of Canada restated a “hold” rating and issued a $1,200.00 price objective on shares of Markel in a report on Thursday. Finally, Boenning Scattergood restated a “buy” rating on shares of Markel in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $1,172.00.
In other Markel news, EVP Anne G. Waleski sold 838 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $1,102.48, for a total value of $923,878.24. Following the completion of the transaction, the executive vice president now directly owns 4,150 shares in the company, valued at approximately $4,575,292. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $1,078.70, for a total transaction of $215,740.00. Following the completion of the transaction, the insider now owns 108,761 shares of the company’s stock, valued at $117,320,490.70. The disclosure for this sale can be found here. Insiders sold a total of 2,138 shares of company stock valued at $2,373,344 over the last 90 days. Company insiders own 2.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MKL. First Personal Financial Services raised its holdings in Markel by 156.1% in the 4th quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 64 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Markel in the 4th quarter worth about $122,000. Toronto Dominion Bank grew its position in shares of Markel by 11.0% in the 2nd quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock worth $167,000 after buying an additional 17 shares during the period. Simplex Trading LLC grew its position in shares of Markel by 169.1% in the 4th quarter. Simplex Trading LLC now owns 148 shares of the insurance provider’s stock worth $168,000 after buying an additional 93 shares during the period. Finally, Cigna Investments Inc. New purchased a new stake in shares of Markel in the 4th quarter worth about $201,000. Institutional investors and hedge funds own 76.82% of the company’s stock.
Markel 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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