American Trust Acquires New Shares in Markel Co. (NYSE:MKL)

American Trust acquired a new stake in Markel Co. (NYSE:MKLGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 139 shares of the insurance provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKL. Fort Washington Investment Advisors Inc. OH grew its stake in Markel by 622.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 59,604 shares of the insurance provider’s stock valued at $87,930,000 after purchasing an additional 51,358 shares during the last quarter. Echo Street Capital Management LLC grew its stake in Markel by 133.8% in the first quarter. Echo Street Capital Management LLC now owns 65,505 shares of the insurance provider’s stock valued at $96,636,000 after purchasing an additional 37,489 shares during the last quarter. First Trust Advisors LP grew its stake in Markel by 14.9% in the first quarter. First Trust Advisors LP now owns 192,303 shares of the insurance provider’s stock valued at $283,693,000 after purchasing an additional 24,903 shares during the last quarter. Principal Financial Group Inc. grew its stake in Markel by 4.0% in the first quarter. Principal Financial Group Inc. now owns 606,602 shares of the insurance provider’s stock valued at $894,883,000 after purchasing an additional 23,165 shares during the last quarter. Finally, Credit Suisse AG grew its stake in Markel by 132.1% in the fourth quarter. Credit Suisse AG now owns 37,365 shares of the insurance provider’s stock valued at $46,109,000 after purchasing an additional 21,267 shares during the last quarter. Hedge funds and other institutional investors own 77.56% of the company’s stock.

Insider Activity at Markel

In other news, Director A. Lynne Puckett bought 48 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average price of $1,196.54 per share, for a total transaction of $57,433.92. Following the completion of the transaction, the director now directly owns 873 shares in the company, valued at $1,044,579.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Thomas Sinnickson Gayner purchased 50 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $1,202.46 per share, with a total value of $60,123.00. Following the completion of the acquisition, the chief executive officer now owns 42,077 shares of the company’s stock, valued at approximately $50,595,909.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Lynne Puckett purchased 48 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $1,196.54 per share, with a total value of $57,433.92. Following the completion of the acquisition, the director now directly owns 873 shares of the company’s stock, valued at approximately $1,044,579.42. The disclosure for this purchase can be found here. Insiders have bought a total of 181 shares of company stock worth $218,307 over the last quarter. Insiders own 1.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on MKL shares. Truist Financial cut their target price on Markel from $1,500.00 to $1,300.00 and set a “hold” rating on the stock in a research note on Friday, August 5th. TheStreet lowered Markel from a “b-” rating to a “c” rating in a research note on Friday, August 5th. Finally, Royal Bank of Canada dropped their price target on Markel from $1,650.00 to $1,600.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1,450.00.

Markel Price Performance

Shares of NYSE MKL opened at $1,199.61 on Tuesday. The business’s 50 day moving average price is $1,229.47 and its 200 day moving average price is $1,322.93. The firm has a market cap of $16.22 billion, a P/E ratio of 681.60 and a beta of 0.71. Markel Co. has a 52 week low of $1,162.00 and a 52 week high of $1,519.24. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.37.

Markel (NYSE:MKLGet Rating) last issued its earnings results on Tuesday, August 2nd. The insurance provider reported $45.02 EPS for the quarter, beating analysts’ consensus estimates of $21.43 by $23.59. Markel had a return on equity of 6.03% and a net margin of 0.83%. During the same period last year, the company earned $19.14 EPS. On average, sell-side analysts expect that Markel Co. will post 67.04 earnings per share for the current year.

Markel Company Profile

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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.

See Also

Institutional Ownership by Quarter for Markel (NYSE:MKL)

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