Markel Corporation (MKL) Position Lowered by SG Americas Securities LLC
SG Americas Securities LLC cut its holdings in shares of Markel Corporation (NYSE:MKL) by 75.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501 shares of the insurance provider’s stock after selling 1,559 shares during the period. SG Americas Securities LLC’s holdings in Markel Corporation were worth $489,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. State of Wisconsin Investment Board boosted its position in shares of Markel Corporation by 31.6% during the second quarter. State of Wisconsin Investment Board now owns 12,081 shares of the insurance provider’s stock valued at $11,789,000 after buying an additional 2,900 shares during the last quarter. Ridgewood Investments LLC boosted its position in shares of Markel Corporation by 0.4% during the second quarter. Ridgewood Investments LLC now owns 3,102 shares of the insurance provider’s stock valued at $3,027,000 after buying an additional 12 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Markel Corporation during the second quarter valued at $1,397,000. Wedge Capital Management L L P NC boosted its position in shares of Markel Corporation by 1.1% during the second quarter. Wedge Capital Management L L P NC now owns 16,668 shares of the insurance provider’s stock valued at $16,266,000 after buying an additional 174 shares during the last quarter. Finally, Palladium Partners LLC boosted its position in shares of Markel Corporation by 0.3% during the second quarter. Palladium Partners LLC now owns 2,418 shares of the insurance provider’s stock valued at $2,360,000 after buying an additional 7 shares during the last quarter. 76.63% of the stock is currently owned by institutional investors.
Shares of Markel Corporation (NYSE MKL) opened at 1035.65 on Tuesday. The company’s 50 day moving average price is $1,046.73 and its 200 day moving average price is $991.38. Markel Corporation has a 52-week low of $811.05 and a 52-week high of $1,086.68. The stock has a market capitalization of $14.41 billion, a PE ratio of 35.81 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $1.46 billion. On average, equities research analysts anticipate that Markel Corporation will post $28.59 EPS for the current year.
In related news, CEO Richard R. Whitt III sold 100 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $1,045.10, for a total transaction of $104,510.00. Following the transaction, the chief executive officer now directly owns 12,039 shares of the company’s stock, valued at approximately $12,581,958.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Steven A. Markel sold 3,875 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were 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 in the company, valued at $117,816,732. The disclosure for this sale can be found here. Insiders have sold a total of 5,727 shares of company stock worth $6,118,092 over the last ninety days. 2.53% of the stock is currently owned by corporate insiders.
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MKL has been the topic of several recent analyst reports. Boenning Scattergood set a $1,050.00 price objective on Markel Corporation and gave the company a “buy” rating in a research report on Wednesday, July 26th. BidaskClub raised Markel Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. ValuEngine raised Markel Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised Markel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $1,050.00.
Markel Corporation Company 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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