CIBC Asset Management Inc Has $2.28 Million Stake in Markel Corporation (MKL)

CIBC Asset Management Inc decreased its stake in Markel Corporation (NYSE:MKL) by 14.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,339 shares of the insurance provider’s stock after selling 410 shares during the period. CIBC Asset Management Inc’s holdings in Markel Corporation were worth $2,283,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MKL. Guggenheim Capital LLC boosted its position in Markel Corporation by 8.8% in the fourth quarter. Guggenheim Capital LLC now owns 385 shares of the insurance provider’s stock valued at $348,000 after buying an additional 31 shares in the last quarter. Teachers Advisors LLC boosted its position in Markel Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 14,911 shares of the insurance provider’s stock valued at $13,487,000 after buying an additional 622 shares in the last quarter. Creative Planning boosted its position in Markel Corporation by 12.6% in the first quarter. Creative Planning now owns 1,689 shares of the insurance provider’s stock valued at $1,648,000 after buying an additional 189 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Markel Corporation by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 4,202 shares of the insurance provider’s stock valued at $4,100,000 after buying an additional 65 shares during the period. Finally, Union Bankshares Corp boosted its position in Markel Corporation by 1.8% in the first quarter. Union Bankshares Corp now owns 446 shares of the insurance provider’s stock valued at $435,000 after buying an additional 8 shares during the period. 76.51% of the stock is owned by institutional investors and hedge funds.

Markel Corporation (MKL) traded down 0.17% during midday trading on Friday, hitting $1048.38. The stock had a trading volume of 15,849 shares. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 36.25 and a beta of 1.03. Markel Corporation has a 1-year low of $811.05 and a 1-year high of $1,086.68. The company’s 50 day moving average is $1,020.73 and its 200 day moving average is $979.97.

Markel Corporation (NYSE:MKL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $9.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.27 by $3.67. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Markel Corporation had a net margin of 7.58% and a return on equity of 4.81%. On average, equities analysts anticipate that Markel Corporation will post $28.59 earnings per share for the current fiscal year.

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Several equities analysts have commented on MKL shares. Zacks Investment Research cut Markel Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. ValuEngine raised Markel Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut Markel Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Boenning Scattergood set a $1,050.00 price target on Markel Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1,050.00.

In other news, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $1,054.03, for a total transaction of $105,403.00. Following the sale, the insider now owns 25,555 shares in the company, valued at approximately $26,935,736.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Steven A. Markel sold 3,875 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $1,074.48, for a total transaction of $4,163,610.00. Following the sale, the insider now owns 109,650 shares in the company, valued at approximately $117,816,732. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,927 shares of company stock worth $5,280,514. Corporate insiders own 2.53% of the company’s stock.

Markel Corporation 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.

Institutional Ownership by Quarter for Markel Corporation (NYSE:MKL)

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