Check Capital Management Inc. CA lowered its holdings in shares of Markel Corporation (NYSE:MKL) by 17.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 612 shares of the insurance provider’s stock after selling 130 shares during the period. Check Capital Management Inc. CA’s holdings in Markel Corporation were worth $597,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Buffington Mohr McNeal acquired a new stake in shares of Markel Corporation during the second quarter worth $475,000. Virtu Financial LLC acquired a new stake in shares of Markel Corporation during the second quarter worth $463,000. Bank of America Corp DE increased its position in shares of Markel Corporation by 9.4% during the first quarter. Bank of America Corp DE now owns 78,256 shares of the insurance provider’s stock worth $76,367,000 after buying an additional 6,700 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in Markel Corporation by 26.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 47,195 shares of the insurance provider’s stock worth $46,055,000 after purchasing an additional 10,014 shares during the period. Finally, Cambridge Trust Co. acquired a new stake in Markel Corporation in the first quarter worth $449,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Richard R. Whitt III sold 100 shares of the company’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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Steven A. Markel sold 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $1,074.48, for a total value of $4,163,610.00. Following the transaction, the insider now directly owns 109,650 shares of the company’s stock, valued at $117,816,732. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,727 shares of company stock worth $6,118,092. 2.53% of the stock is owned by insiders.
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Shares of Markel Corporation (MKL) traded up 0.15% on Friday, hitting $1053.89. 3,114 shares of the stock were exchanged. Markel Corporation has a 12 month low of $811.05 and a 12 month high of $1,086.68. The company has a 50-day moving average price of $1,047.20 and a 200 day moving average price of $994.49. The company has a market cap of $14.66 billion, a PE ratio of 36.44 and a beta of 1.04.
Markel Corporation (NYSE:MKL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, beating the Zacks’ consensus estimate of $6.27 by $3.67. The firm had revenue of $1.46 billion for 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 analysts forecast that Markel Corporation will post $27.56 EPS for the current fiscal year.
A number of equities research analysts have commented on MKL shares. Boenning Scattergood set a $1,050.00 price target on shares of Markel Corporation and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of Markel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. ValuEngine upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Markel Corporation has a consensus rating of “Hold” and an average price target of $1,050.00.
Markel Corporation 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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