Markel Co. Forecasted to Post Q1 2018 Earnings of $8.06 Per Share (MKL)
Markel Co. (NYSE:MKL) – Equities research analysts at SunTrust Banks lifted their Q1 2018 earnings per share (EPS) estimates for shares of Markel in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will earn $8.06 per share for the quarter, up from their previous forecast of $7.71. SunTrust Banks currently has a “Hold” rating and a $1,200.00 target price on the stock. SunTrust Banks also issued estimates for Markel’s Q2 2018 earnings at $8.23 EPS, Q3 2018 earnings at $8.66 EPS, Q4 2018 earnings at $8.66 EPS, FY2018 earnings at $33.61 EPS, Q1 2019 earnings at $8.80 EPS, Q2 2019 earnings at $9.00 EPS, Q3 2019 earnings at $9.41 EPS and Q4 2019 earnings at $9.41 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Markel from a “hold” rating to a “buy” rating and set a $1,253.00 target price on the stock in a research report on Friday, January 5th. Boenning Scattergood restated a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $1,200.00 price objective on shares of Markel in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Markel currently has an average rating of “Hold” and a consensus target price of $1,172.00.
In related news, Vice Chairman Steven A. Markel sold 200 shares of Markel stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1,143.47, for a total transaction of $228,694.00. Following the transaction, the insider now owns 106,360 shares in the company, valued at $121,619,469.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anne G. Waleski sold 838 shares of Markel stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $1,102.48, for a total value of $923,878.24. Following the transaction, the executive vice president now owns 4,150 shares in the company, valued at approximately $4,575,292. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,138 shares of company stock worth $2,373,344. 2.53% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Markel by 0.3% during the fourth quarter. BlackRock Inc. now owns 845,404 shares of the insurance provider’s stock worth $963,025,000 after buying an additional 2,155 shares in the last quarter. Principal Financial Group Inc. lifted its position in Markel by 0.9% during the third quarter. Principal Financial Group Inc. now owns 665,259 shares of the insurance provider’s stock worth $710,484,000 after buying an additional 6,092 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its position in Markel by 0.6% during the third quarter. Atlanta Capital Management Co. L L C now owns 567,924 shares of the insurance provider’s stock worth $606,532,000 after buying an additional 3,264 shares in the last quarter. Bessemer Group Inc. lifted its position in Markel by 1.3% during the fourth quarter. Bessemer Group Inc. now owns 179,515 shares of the insurance provider’s stock worth $204,491,000 after buying an additional 2,314 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Markel by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 175,898 shares of the insurance provider’s stock worth $200,371,000 after acquiring an additional 13,480 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.
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Markel Company Profile
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. It monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance. The Company, through its subsidiary Markel Ventures, Inc (Markel Ventures), owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace.
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