Pacer Advisors Inc. raised its holdings in shares of Markel Corporation (NYSE:MKL) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 328 shares of the insurance provider’s stock after buying an additional 29 shares during the quarter. Pacer Advisors Inc.’s holdings in Markel Corporation were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Buffington Mohr McNeal purchased a new position in Markel Corporation during the second quarter worth about $475,000. Virtu Financial LLC purchased a new position in Markel Corporation during the second quarter worth about $463,000. Bank of America Corp DE grew its position in 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 in the last quarter. Cambridge Trust Co. purchased a new position in Markel Corporation during the first quarter worth about $449,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in Markel Corporation by 1.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 35,125 shares of the insurance provider’s stock worth $34,277,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.
Several research firms recently commented on MKL. ValuEngine upgraded Markel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Markel Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Boenning Scattergood set a $1,050.00 target price on Markel Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Markel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $1,050.00.
In other Markel Corporation news, EVP Bradley James Kiscaden sold 350 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $1,074.56, for a total value of $376,096.00. Following the completion of the sale, the executive vice president now owns 6,817 shares in the company, valued at approximately $7,325,275.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard R. Whitt III sold 100 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $1,045.10, for a total value of $104,510.00. Following the completion of the sale, the chief executive officer now owns 12,039 shares of the company’s stock, valued at approximately $12,581,958.90. The disclosure for this sale can be found here. Over the last ninety days, 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) opened at 1048.46 on Wednesday. Markel Corporation has a 52 week low of $811.05 and a 52 week high of $1,086.68. The firm’s 50-day moving average price is $1,046.41 and its 200 day moving average price is $991.70. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 36.25 and a beta of 1.04.
Markel Corporation (NYSE:MKL) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, topping the Zacks’ consensus estimate of $6.27 by $3.67. Markel Corporation had a return on equity of 4.81% and a net margin of 7.58%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, equities research analysts forecast that Markel Corporation will post $27.56 EPS for the current year.
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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