Markel Co. (NYSE:MKL) – Boenning Scattergood cut their Q3 2020 earnings estimates for shares of Markel in a research report issued on Monday, October 21st. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will post earnings per share of $6.55 for the quarter, down from their previous forecast of $6.74. Boenning Scattergood currently has a “Outperform” rating on the stock. Boenning Scattergood also issued estimates for Markel’s Q4 2020 earnings at $9.45 EPS and FY2020 earnings at $35.50 EPS.
Markel (NYSE:MKL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $11.84 earnings per share for the quarter. The business had revenue of $2.01 billion during the quarter. Markel had a net margin of 9.07% and a return on equity of 7.38%.
Shares of Markel stock traded down $14.50 during trading on Thursday, hitting $1,121.03. The company’s stock had a trading volume of 472 shares, compared to its average volume of 33,152. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty day simple moving average of $1,163.24 and a two-hundred day simple moving average of $1,101.46. The company has a market capitalization of $15.69 billion, a PE ratio of 54.87 and a beta of 0.77. Markel has a 52 week low of $950.16 and a 52 week high of $1,216.47.
In other Markel news, Vice Chairman Anthony F. Markel sold 41 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,118.24, for a total transaction of $45,847.84. Following the completion of the sale, the insider now directly owns 99,338 shares in the company, valued at approximately $111,083,725.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Steven A. Markel sold 2,955 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,111.37, for a total transaction of $3,284,098.35. Following the sale, the insider now owns 98,132 shares of the company’s stock, valued at $109,060,960.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,314 shares of company stock valued at $8,289,503. 2.34% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MKL. Nuveen Asset Management LLC bought a new stake in Markel during the 2nd quarter valued at about $53,915,000. Citadel Advisors LLC boosted its holdings in shares of Markel by 545.4% during the 2nd quarter. Citadel Advisors LLC now owns 58,282 shares of the insurance provider’s stock valued at $63,504,000 after acquiring an additional 49,251 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Markel by 147.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 61,574 shares of the insurance provider’s stock valued at $67,091,000 after acquiring an additional 36,649 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Markel by 43.2% during the 2nd quarter. Mackenzie Financial Corp now owns 116,926 shares of the insurance provider’s stock valued at $127,403,000 after acquiring an additional 35,278 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its holdings in shares of Markel by 23.9% during the 2nd quarter. DF Dent & Co. Inc. now owns 158,028 shares of the insurance provider’s stock valued at $172,187,000 after acquiring an additional 30,487 shares during the last quarter. Institutional investors and hedge funds own 75.36% of the company’s stock.
Markel Company 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.
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