Wedge Capital Management L L P NC increased its position in Markel Co.(NYSE:MKL) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).The firm owned 48,005 shares of the insurance provider’s stock after acquiring an additional 6,596 shares during the period.Wedge Capital Management L L P NC’s holdings in Markel were worth $46,742,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MKL.HighTower Advisors LLC lifted its position in Markel by 18.1% during the first quarter.HighTower Advisors LLC now owns 684 shares of the insurance provider’s stock valued at $636,000 after purchasing an additional 105 shares in the last quarter.
Invesco Ltd.
lifted its position in Markel by 113.7% during the first quarter.Invesco Ltd.now owns 39,777 shares of the insurance provider’s stock valued at $36,909,000 after purchasing an additional 21,160 shares in the last quarter.
AMG National Trust Bank purchased a new position in Markel during the second quarter valued at $1,414,000.Tower Research Capital LLC TRC lifted its position in Markel by 2,240.0% during the first quarter.Tower Research Capital LLC TRC now owns 117 shares of the insurance provider’s stock valued at $109,000 after purchasing an additional 112 shares in the last quarter.Finally, UBS Group AG lifted its position in Markel by 48.4% during the second quarter.UBS Group AG now owns 12,459 shares of the insurance provider’s stock valued at $11,502,000 after purchasing an additional 4,063 shares in the last quarter.
76.19% of the stock is owned by institutional investors.Get Markel alerts:
Shares of MKL stock traded up $16.05 during trading hours on Thursday, hitting $998.00.The stock had a trading volume of 32,973 shares, compared to its average volume of 53,054.
Markel Co.has a one year low of $710.52 and a one year high of $1,347.64.The company has a debt-to-equity ratio of 0.33, a current ratio of 0.68 and a quick ratio of 0.68.The stock’s 50-day moving average price is $1,031.52 and its two-hundred day moving average price is $956.31.The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 64.97 and a beta of 0.69.Markel (NYSE:MKL) last issued its earnings results on Tuesday, July 28th.
The insurance provider reported $13.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.70 by $4.96.Markel had a return on equity of 3.31% and a net margin of 2.66%.The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.17 billion.As a group, equities research analysts predict that Markel Co.will post 17.68 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company.Zacks Investment Research upgraded Markel from a “hold” rating to a “strong-buy” rating and set a $1,185.00 target price on the stock in a research report on Wednesday, September 16th.
SunTrust Banks boosted their price objective on Markel from $1,000.00 to $1,050.00 and gave the company a “hold” rating in a research report on Thursday, July 30th.TheStreet upgraded Markel from a “c+” rating to a “b-” rating in a research report on Friday, August 28th.
Deutsche Bank boosted their price objective on Markel from $895.00 to $925.00 and gave the company a “hold” rating in a research report on Thursday, July 30th.Finally, Boenning Scattergood restated an “outperform” rating on shares of Markel in a research report on Tuesday, July 21st.Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock.Markel presently has an average rating of “Buy” and a consensus price target of $1,102.50.
Markel Profile
Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally.
Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers’ compensation insurance products.
Further Reading: What is required to own or exchange cryptocurrency?
Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Co.(NYSE:MKL).Receive News & Ratings for Markel Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Markel and related companies with MarketBeat.com’s FREE daily email newsletter ..
