Markel Co. (NYSE:MKL) Short Interest Up 32.3% in April


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Markel Co. (NYSE:MKL) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 109,700 shares, a growth of 32.3% from the March 31st total of 82,900 shares. Based on an average daily trading volume, of 54,900 shares, the short-interest ratio is presently 2.0 days. Approximately 0.8% of the shares of the stock are short sold.

Shares of NYSE MKL traded down $3.75 during trading hours on Tuesday, hitting $1,187.05. The company’s stock had a trading volume of 337 shares, compared to its average volume of 54,796. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 36.71 and a beta of 0.67. Markel has a 12 month low of $761.06 and a 12 month high of $1,218.88. The business has a 50-day simple moving average of $1,167.72 and a 200-day simple moving average of $1,062.93.

Markel (NYSE:MKL) last posted its earnings results on Monday, February 1st. The insurance provider reported $8.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $9.12 by ($0.75). The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Markel had a return on equity of 2.41% and a net margin of 5.29%. On average, equities research analysts forecast that Markel will post 19.2 EPS for the current year.

MKL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Markel from $1,100.00 to $1,125.00 and gave the company a “hold” rating in a research report on Thursday, February 4th. Truist raised their price objective on Markel from $1,050.00 to $1,150.00 in a research note on Wednesday, January 6th. Zacks Investment Research cut Markel from a “strong-buy” rating to a “sell” rating and set a $1,245.00 price objective on the stock. in a research note on Tuesday, April 6th. Finally, Truist Financial reduced their price objective on Markel from $1,350.00 to $1,150.00 in a research note on Tuesday, April 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Markel currently has a consensus rating of “Hold” and a consensus target price of $1,144.00.

In other news, Director A. Lynne Puckett purchased 90 shares of the stock in a transaction on Thursday, February 18th. The shares were acquired at an average price of $1,092.20 per share, for a total transaction of $98,298.00. Following the completion of the transaction, the director now directly owns 255 shares of the company’s stock, valued at approximately $278,511. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven A. Markel sold 1,500 shares of the firm’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $1,199.36, for a total value of $1,799,040.00. Following the sale, the director now owns 88,352 shares in the company, valued at approximately $105,965,854.72. The disclosure for this sale can be found here. Insiders sold 4,126 shares of company stock worth $4,937,991 in the last quarter. 2.21% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. grew its stake in shares of Markel by 17.1% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,716 shares of the insurance provider’s stock worth $2,806,000 after purchasing an additional 397 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in Markel by 33.3% in the first quarter. Carmichael Hill & Associates Inc. now owns 40 shares of the insurance provider’s stock worth $46,000 after buying an additional 10 shares during the period. Panagora Asset Management Inc. lifted its holdings in Markel by 67.2% in the fourth quarter. Panagora Asset Management Inc. now owns 1,271 shares of the insurance provider’s stock worth $1,313,000 after buying an additional 511 shares during the period. KBC Group NV lifted its holdings in Markel by 26.0% in the fourth quarter. KBC Group NV now owns 1,949 shares of the insurance provider’s stock worth $2,014,000 after buying an additional 402 shares during the period. Finally, Douglass Winthrop Advisors LLC lifted its holdings in Markel by 3.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 84,634 shares of the insurance provider’s stock worth $87,452,000 after buying an additional 2,787 shares during the period. 74.60% of the stock is currently owned by institutional investors.

Markel Company Profile

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, Latin America, 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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