Markel Co. (NYSE:MKL) Sees Significant Decrease in Short Interest

Markel Co. (NYSE:MKLGet Rating) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 116,300 shares, a decrease of 15.8% from the May 15th total of 138,100 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 62,000 shares, the short-interest ratio is presently 1.9 days.

Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Markel in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. William Blair reissued an “outperform” rating on shares of Markel in a research report on Wednesday, April 27th. Finally, Truist Financial lifted their target price on shares of Markel from $1,400.00 to $1,500.00 in a research report on Thursday, April 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,525.00.

In related news, Director Steven A. Markel sold 1,500 shares of Markel stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $1,486.02, for a total transaction of $2,229,030.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director A. Lynne Puckett purchased 78 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were acquired at an average price of $1,319.71 per share, with a total value of $102,937.38. Following the completion of the acquisition, the director now owns 603 shares in the company, valued at approximately $795,785.13. The disclosure for this purchase can be found here. Insiders acquired 208 shares of company stock worth $272,649 over the last quarter. Company insiders own 1.74% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MKL. Amundi Pioneer Asset Management Inc. raised its stake in shares of Markel by 0.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,658 shares of the insurance provider’s stock valued at $9,622,000 after purchasing an additional 56 shares during the period. Morgan Stanley increased its stake in Markel by 1.9% in the 2nd quarter. Morgan Stanley now owns 42,672 shares of the insurance provider’s stock worth $50,638,000 after acquiring an additional 778 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Markel by 11.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 246 shares of the insurance provider’s stock valued at $244,000 after acquiring an additional 26 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Markel by 0.7% in the 3rd quarter. Invesco Ltd. now owns 37,870 shares of the insurance provider’s stock valued at $45,260,000 after acquiring an additional 263 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Markel by 19.4% in the 3rd quarter. Man Group plc now owns 4,077 shares of the insurance provider’s stock valued at $4,872,000 after acquiring an additional 662 shares in the last quarter. Institutional investors own 77.07% of the company’s stock.

Shares of MKL traded up $16.59 during mid-day trading on Friday, hitting $1,277.80. The stock had a trading volume of 473 shares, compared to its average volume of 38,706. The firm has a market cap of $17.34 billion, a P/E ratio of 9.97 and a beta of 0.74. The business has a fifty day moving average price of $1,379.00 and a 200-day moving average price of $1,317.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.66 and a quick ratio of 0.66. Markel has a 52 week low of $1,155.00 and a 52 week high of $1,519.24.

Markel (NYSE:MKLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The insurance provider reported $11.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.79 by ($5.46). Markel had a net margin of 14.33% and a return on equity of 6.30%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $10.12 earnings per share. As a group, research analysts expect that Markel will post 72.97 earnings per share for the current fiscal year.

About Markel (Get Rating)

Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. Its Insurance segment offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.

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