Markel Corp (MKL) Receives a Buy from Boenning & Scattergood


In a report released today, Robert Farnam from Boenning & Scattergood maintained a Buy rating on Markel Corp (MKL), with a price target of $1200. The company’s shares closed on Friday at $1089.60.

Farnam observed:

“We softened our expectations for multiple expansion in the near-term, largely due to the continuing overhang related to the unresolved regulatory inquiries into CATCo. However, we believe Markel’s shares continue to merit an Outperform rating based on upside potential. While the share price may have some volatility in any short period of time, we believe Markel’s shares are an excellent core holding for a longer-term investor. Markel has grown book value per share by an average of 15% annually for almost 25 years, the highest growth rate in the P&C industry over that time. The company’s shares are currently trading at 1.5 times book value per share, below the company’s long-term median P/B multiple of 1.7x.”

According to TipRanks.com, Farnam has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.5% and a 33.3% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Hallmark Financial Services, and Selective Insurance Group.

Markel Corp has an analyst consensus of Moderate Buy, with a price target consensus of $1100.

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Markel Corp’s market cap is currently $15.09B and has a P/E ratio of 29.17. The company has a Price to Book ratio of 1.54.

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