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

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

Several other research analysts have also commented on the stock. William Blair restated an outperform rating on shares of Markel in a research note on Wednesday, April 27th. 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 on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $1,450.00.

Markel Stock Performance

Shares of MKL opened at $1,167.94 on Friday. The company’s fifty day moving average is $1,298.24 and its 200-day moving average is $1,328.99. Markel has a 12 month low of $1,165.18 and a 12 month high of $1,519.24. 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 (NYSE:MKLGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The insurance provider reported $45.02 EPS for the quarter, topping 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 quarter last year, the business posted $19.14 EPS. Equities analysts expect that Markel will post 71.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas Sinnickson Gayner purchased 50 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $1,306.00 per share, for a total transaction of $65,300.00. Following the transaction, the chief executive officer now directly owns 42,027 shares of the company’s stock, valued at approximately $54,887,262. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Markel news, Director Anthony F. Markel acquired 80 shares of Markel stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $1,305.14 per share, with a total value of $104,411.20. Following the acquisition, the director now owns 2,650 shares of the company’s stock, valued at $3,458,621. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 50 shares of Markel stock in a transaction dated Monday, May 9th. The shares were acquired at an average cost of $1,306.00 per share, with a total value of $65,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,027 shares in the company, valued at approximately $54,887,262. The disclosure for this purchase can be found here. Insiders have purchased 228 shares of company stock worth $287,268 in the last ninety days. Insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On Markel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gamble Jones Investment Counsel lifted its holdings in Markel by 36.3% during the 2nd quarter. Gamble Jones Investment Counsel now owns 1,220 shares of the insurance provider’s stock valued at $1,578,000 after purchasing an additional 325 shares during the last quarter. MQS Management LLC bought a new position in Markel during the 2nd quarter valued at about $204,000. Gilbert & Cook Inc. lifted its holdings in Markel by 7.2% during the 2nd quarter. Gilbert & Cook Inc. now owns 370 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 25 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Markel by 36.4% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 81,328 shares of the insurance provider’s stock valued at $105,177,000 after purchasing an additional 21,724 shares during the last quarter. Finally, Gardner Russo & Quinn LLC lifted its holdings in Markel by 1.4% during the 2nd quarter. Gardner Russo & Quinn LLC now owns 6,611 shares of the insurance provider’s stock valued at $8,550,000 after purchasing an additional 94 shares during the last quarter. 77.07% of the stock is owned by institutional investors.

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.

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