PNC Financial Services Group Inc. Boosts Stake in Markel Co. (NYSE:MKL)

PNC Financial Services Group Inc. increased its position in shares of Markel Co. (NYSE:MKL) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,051 shares of the insurance provider’s stock after purchasing an additional 323 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Markel were worth $10,255,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Engrave Wealth Partners LLC acquired a new position in Markel during the fourth quarter worth $25,000. Security National Trust Co. acquired a new position in Markel during the fourth quarter worth $26,000. Carmichael Hill & Associates Inc. acquired a new position in Markel during the fourth quarter worth $34,000. Aigen Investment Management LP acquired a new position in Markel during the fourth quarter worth $34,000. Finally, Ancora Advisors LLC acquired a new position in Markel during the fourth quarter worth $42,000. 76.14% of the stock is owned by hedge funds and other institutional investors.

MKL has been the subject of several research reports. SunTrust Banks reaffirmed a “hold” rating on shares of Markel in a report on Thursday, April 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $1,250.00 price objective on shares of Markel in a report on Thursday, April 30th. Deutsche Bank reissued a “hold” rating and issued a $945.00 price target on shares of Markel in a report on Tuesday, April 14th. Zacks Investment Research cut Markel from a “hold” rating to a “sell” rating and set a $892.00 price target for the company. in a report on Monday, May 4th. Finally, ValuEngine raised Markel from a “sell” rating to a “hold” rating in a report on Monday, March 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Markel currently has a consensus rating of “Hold” and a consensus price target of $1,029.00.

In related news, Chairman Alan I. Kirshner sold 400 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $1,000.00, for a total value of $400,000.00. Following the completion of the transaction, the chairman now directly owns 20,453 shares in the company, valued at $20,453,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Debora J. Wilson bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $822.82 per share, with a total value of $822,820.00. Following the completion of the purchase, the director now directly owns 2,957 shares of the company’s stock, valued at approximately $2,433,078.74. The disclosure for this purchase can be found here. Corporate insiders own 2.21% of the company’s stock.

NYSE MKL opened at $863.08 on Friday. Markel Co. has a fifty-two week low of $710.52 and a fifty-two week high of $1,347.64. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 18.06 and a beta of 0.64. The business has a fifty day moving average of $888.67 and a 200-day moving average of $1,080.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Markel (NYSE:MKL) last released its quarterly earnings results on Tuesday, April 28th. The insurance provider reported $15.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.34 by $6.10. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Markel had a positive return on equity of 6.33% and a negative net margin of 2.61%. As a group, analysts anticipate that Markel Co. will post 17.09 EPS for the current year.

Markel Profile

Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.

See Also: The risks of owning bonds

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Co. (NYSE:MKL).

Institutional Ownership by Quarter for Markel (NYSE:MKL)

Receive News & Ratings for Markel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markel and related companies with MarketBeat.com's FREE daily email newsletter.