Markel (MKL) Sets New 1-Year High at $1,126.13
Markel Co. (NYSE:MKL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $1,126.13 and last traded at $1,121.69, with a volume of 28400 shares traded. The stock had previously closed at $1,118.46.
Several research analysts have issued reports on MKL shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $1,050.00 price objective on shares of Markel in a report on Tuesday, October 3rd. Zacks Investment Research cut shares of Markel from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Boenning Scattergood reiterated a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Finally, SunTrust Banks restated a “hold” rating and issued a $1,100.00 price objective on shares of Markel in a research report on Friday, October 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $1,066.67.
The firm has a market capitalization of $15,537.53, a PE ratio of 366.71 and a beta of 1.05. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.28.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $1,100.58, for a total transaction of $220,116.00. Following the completion of the transaction, the insider now owns 108,530 shares in the company, valued at approximately $119,445,947.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Anne G. Waleski sold 838 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $1,102.48, for a total value of $923,878.24. Following the transaction, the executive vice president now owns 4,150 shares of the company’s stock, valued at approximately $4,575,292. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,307 shares of company stock valued at $2,510,338. Corporate insiders own 2.53% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd bought a new position in Markel during the 3rd quarter worth about $478,000. Stonebridge Capital Advisors LLC bought a new position in Markel during the 3rd quarter worth about $219,000. Bares Capital Management Inc. increased its holdings in Markel by 6.8% during the 3rd quarter. Bares Capital Management Inc. now owns 125,152 shares of the insurance provider’s stock worth $133,660,000 after purchasing an additional 7,964 shares in the last quarter. California Public Employees Retirement System increased its holdings in Markel by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 29,434 shares of the insurance provider’s stock worth $31,435,000 after purchasing an additional 968 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Markel during the 3rd quarter worth about $556,000. Hedge funds and other institutional investors own 76.89% 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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