DAVENPORT & Co LLC trimmed its stake in shares of Markel Co. (NYSE:MKL) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,256 shares of the insurance provider’s stock after selling 1,578 shares during the quarter. Markel makes up 3.0% of DAVENPORT & Co LLC’s holdings, making the stock its biggest holding. DAVENPORT & Co LLC owned about 2.01% of Markel worth $269,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in Markel during the 2nd quarter valued at $81,000. Tower Research Capital LLC TRC grew its holdings in Markel by 2,240.0% during the first quarter. Tower Research Capital LLC TRC now owns 117 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 112 shares during the period. SRS Capital Advisors Inc. raised its position in Markel by 37.4% in the second quarter. SRS Capital Advisors Inc. now owns 180 shares of the insurance provider’s stock worth $166,000 after acquiring an additional 49 shares in the last quarter. Carroll Financial Associates Inc. raised its position in Markel by 160.8% in the second quarter. Carroll Financial Associates Inc. now owns 206 shares of the insurance provider’s stock worth $190,000 after acquiring an additional 127 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in Markel in the second quarter worth about $194,000. Institutional investors own 76.19% of the company’s stock.
Several equities research analysts have commented on the stock. SunTrust Banks boosted their price target on shares of Markel from $1,000.00 to $1,050.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Markel in a research report on Tuesday, July 21st. TheStreet raised Markel from a “c+” rating to a “b-” rating in a research report on Friday, August 28th. Zacks Investment Research cut Markel from a “hold” rating to a “sell” rating and set a $1,077.00 target price for the company. in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Markel from $895.00 to $925.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $1,075.50.
Markel (NYSE:MKL) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $13.66 earnings per share for the quarter, beating analysts’ consensus estimates of $8.70 by $4.96. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. Markel had a net margin of 2.66% and a return on equity of 3.31%. As a group, analysts predict that Markel Co. will post 15.95 EPS for the current year.
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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