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GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported fourth-quarter profit of $502.7 million.
On a per-share basis, the Glen Allen, Virginia-based company said it had net income of $36.26. Earnings, adjusted for investment gains, came to $6.57 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $7.07 per share.
The insurer posted revenue of $2.58 billion in the period. Its adjusted revenue was $2.05 billion, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.07 billion.
For the year, the company reported net income of $1.79 billion, or $129.07 per share, swinging to a profit in the period. Revenue was reported as $7.92 billion.
Markel shares have risen slightly more than 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $1,192.07, a climb of 12% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKL at https://www.zacks.com/ap/MKL
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