Markel (NYSE:MKL) Given New $1,300.00 Price Target at Truist Financial

Markel (NYSE:MKLGet Rating) had its price target cut by Truist Financial from $1,500.00 to $1,300.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a hold rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Markel from $1,650.00 to $1,600.00 and set an outperform rating for the company in a research note on Thursday. William Blair reiterated an outperform rating on shares of Markel in a research note on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $1,450.00.

Markel Stock Down 1.2 %

Shares of NYSE MKL opened at $1,167.94 on Friday. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 663.61 and a beta of 0.70. The company has a quick ratio of 0.66, a current ratio of 0.65 and a debt-to-equity ratio of 0.37. Markel has a 52-week low of $1,165.18 and a 52-week high of $1,519.24. The business’s 50 day moving average is $1,298.24 and its two-hundred day moving average is $1,328.99.

Markel (NYSE:MKLGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The insurance provider reported $45.02 earnings per share for the quarter, topping 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 quarter last year, the company earned $19.14 EPS. Research analysts predict that Markel will post 71.93 EPS for the current year.

Insider Buying and Selling

In other Markel news, CEO Thomas Sinnickson Gayner bought 50 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were acquired at an average price of $1,306.00 per share, with a total value of $65,300.00. Following the purchase, the chief executive officer now owns 42,027 shares in the company, valued at approximately $54,887,262. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director A. Lynne Puckett purchased 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, with a total value of $57,433.92. Following the purchase, the director now directly owns 873 shares of the company’s stock, valued at approximately $1,044,579.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Sinnickson Gayner purchased 50 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were purchased at an average cost of $1,306.00 per share, for a total transaction of $65,300.00. Following the purchase, the chief executive officer now directly owns 42,027 shares in the company, valued at $54,887,262. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 228 shares of company stock worth $287,268. 1.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Markel

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Markel by 1.6% in the 1st quarter. BlackRock Inc. now owns 629,879 shares of the insurance provider’s stock worth $929,225,000 after purchasing an additional 9,937 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Markel by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 606,602 shares of the insurance provider’s stock worth $894,883,000 after purchasing an additional 23,165 shares during the last quarter. First Trust Advisors LP increased its position in shares of Markel by 14.9% in the 1st quarter. First Trust Advisors LP now owns 192,303 shares of the insurance provider’s stock worth $283,693,000 after purchasing an additional 24,903 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Markel by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 175,898 shares of the insurance provider’s stock valued at $216,720,000 after buying an additional 8,344 shares during the period. Finally, Scharf Investments LLC boosted its holdings in shares of Markel by 3.3% in the 1st quarter. Scharf Investments LLC now owns 124,965 shares of the insurance provider’s stock valued at $184,365,000 after buying an additional 3,972 shares during the period. Institutional investors own 77.07% of the company’s stock.

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.

Further Reading

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