Bank of America Corp DE Sells 1,544 Shares of Markel Co. (NYSE:MKL)

Bank of America Corp DE lowered its holdings in shares of Markel Co. (NYSE:MKLGet Rating) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,118 shares of the insurance provider’s stock after selling 1,544 shares during the quarter. Bank of America Corp DE owned about 0.89% of Markel worth $178,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Neuberger Berman Group LLC grew its holdings in Markel by 1.8% during the first quarter. Neuberger Berman Group LLC now owns 514 shares of the insurance provider’s stock valued at $758,000 after purchasing an additional 9 shares during the last quarter. Security Asset Management lifted its position in Markel by 0.4% during the 1st quarter. Security Asset Management now owns 2,829 shares of the insurance provider’s stock worth $4,173,000 after acquiring an additional 10 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Markel by 5.4% during the fourth quarter. Hilltop Holdings Inc. now owns 234 shares of the insurance provider’s stock valued at $289,000 after acquiring an additional 12 shares during the period. Pinnacle Bancorp Inc. grew its position in shares of Markel by 37.1% in the first quarter. Pinnacle Bancorp Inc. now owns 48 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 13 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Markel by 4.0% during the 1st quarter. Raymond James Trust N.A. now owns 339 shares of the insurance provider’s stock worth $500,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Markel Price Performance

Shares of NYSE:MKL opened at $1,138.64 on Thursday. The business’s 50 day moving average is $1,223.65 and its 200-day moving average is $1,320.63. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $15.40 billion, a PE ratio of 646.96 and a beta of 0.71. Markel Co. has a 1-year low of $1,138.64 and a 1-year high of $1,519.24.

Markel (NYSE:MKLGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The insurance provider reported $45.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.43 by $23.59. Markel had a net margin of 0.83% and a return on equity of 6.03%. During the same period last year, the firm posted $19.14 EPS. Sell-side analysts predict that Markel Co. will post 67.04 earnings per share for the current year.

Insider Buying and Selling

In related news, Director A. Lynne Puckett acquired 83 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were bought at an average cost of $1,213.86 per share, with a total value of $100,750.38. Following the completion of the acquisition, the director now owns 956 shares of the company’s stock, valued at $1,160,450.16. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director A. Lynne Puckett bought 83 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average price of $1,213.86 per share, for a total transaction of $100,750.38. Following the transaction, the director now directly owns 956 shares of the company’s stock, valued at $1,160,450.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner purchased 50 shares of the stock in a transaction on Thursday, August 4th. The stock was bought at an average price of $1,202.46 per share, for a total transaction of $60,123.00. Following the completion of the transaction, the chief executive officer now directly owns 42,077 shares of the company’s stock, valued at $50,595,909.42. The disclosure for this purchase can be found here. Insiders acquired 181 shares of company stock valued at $218,307 over the last quarter. Corporate insiders own 1.74% of the company’s stock.

Markel Profile

(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.

Featured Stories

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.