IndexIQ Advisors LLC reduced its position in shares of Markel Co. (NYSE:MKL) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,499 shares of the insurance provider’s stock after selling 36 shares during the period. IndexIQ Advisors LLC’s holdings in Markel were worth $2,987,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MKL. Berman Capital Advisors LLC raised its position in Markel by 109.1% during the third quarter. Berman Capital Advisors LLC now owns 23 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 12 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new stake in shares of Markel during the second quarter worth $33,000. Lenox Wealth Advisors LLC bought a new stake in shares of Markel during the third quarter worth $38,000. First Horizon Advisors Inc. grew its stake in shares of Markel by 1,212.5% in the third quarter. First Horizon Advisors Inc. now owns 105 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 97 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Markel by 23.5% in the third quarter. Deseret Mutual Benefit Administrators now owns 84 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.
In other news, Director Steven A. Markel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 19th. The stock was sold at an average price of $1,300.16, for a total value of $1,950,240.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Sinnickson Gayner purchased 25 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was bought at an average cost of $1,251.30 per share, with a total value of $31,282.50. The disclosure for this purchase can be found here. Corporate insiders own 1.97% of the company’s stock.
Markel (NYSE:MKL) last announced its quarterly earnings data on Monday, November 1st. The insurance provider reported $16.54 earnings per share for the quarter, beating analysts’ consensus estimates of $11.84 by $4.70. Markel had a return on equity of 6.32% and a net margin of 19.30%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company earned $4.41 earnings per share. On average, analysts anticipate that Markel Co. will post 58.75 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. Truist Securities upped their price objective on shares of Markel from $1,350.00 to $1,400.00 and gave the company a “hold” rating in a report on Monday, November 8th. Boenning Scattergood cut Markel from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 3rd. Zacks Investment Research lowered Markel from a “strong-buy” rating to a “hold” rating and set a $1,380.00 target price on the stock. in a research note on Tuesday, October 5th. Finally, Royal Bank of Canada upped their price objective on Markel from $1,450.00 to $1,550.00 and gave the stock an “outperform” rating in a report on Thursday, November 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1,321.00.
Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the following segments: Insurance and Reinsurance. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.
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