Markel Co. (NYSE:MKL) – Equities researchers at William Blair upped their Q2 2018 earnings estimates for Markel in a report released on Wednesday, Zacks Investment Research reports. William Blair analyst A. Klauber now expects that the insurance provider will earn $5.97 per share for the quarter, up from their previous forecast of $5.72. William Blair also issued estimates for Markel’s Q3 2018 earnings at $7.12 EPS, Q4 2018 earnings at $8.10 EPS, FY2018 earnings at $28.95 EPS and FY2019 earnings at $26.37 EPS.
Several other brokerages also recently commented on MKL. Zacks Investment Research downgraded shares of Markel from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $1,200.00 price objective on shares of Markel in a research report on Thursday, February 8th. SunTrust Banks boosted their price objective on shares of Markel to $1,200.00 and gave the company a “hold” rating in a research report on Thursday, February 8th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Markel presently has an average rating of “Hold” and an average price target of $1,172.00.
Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in Markel by 11.0% during the 2nd quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 17 shares in the last quarter. California Public Employees Retirement System increased its stake 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 valued at $31,435,000 after purchasing an additional 968 shares in the last quarter. Nationwide Fund Advisors increased its stake in Markel by 50.0% during the 2nd quarter. Nationwide Fund Advisors now owns 3,000 shares of the insurance provider’s stock valued at $2,928,000 after purchasing an additional 1,000 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Markel by 4.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 12,614 shares of the insurance provider’s stock valued at $13,471,000 after purchasing an additional 533 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Markel by 1.4% in the third quarter. Wells Fargo & Company MN now owns 76,310 shares of the insurance provider’s stock worth $81,497,000 after acquiring an additional 1,022 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.
In related news, EVP Anne G. Waleski sold 838 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $1,102.48, for a total transaction of $923,878.24. Following the completion of the transaction, the executive vice president now owns 4,150 shares in the company, valued at approximately $4,575,292. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $1,078.70, for a total transaction of $215,740.00. Following the transaction, the insider now owns 108,761 shares in the company, valued at approximately $117,320,490.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,438 shares of company stock valued at $2,691,350. 2.53% of the stock is currently owned by company insiders.
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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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