Fmr LLC lessened its holdings in Markel Co. (NYSE:MKL) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,638 shares of the insurance provider’s stock after selling 663 shares during the quarter. Fmr LLC’s holdings in Markel were worth $3,945,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Elgethun Capital Management boosted its holdings in shares of Markel by 11.7% during the second quarter. Elgethun Capital Management now owns 1,111 shares of the insurance provider’s stock valued at $1,206,000 after acquiring an additional 116 shares during the period. Arizona State Retirement System boosted its holdings in shares of Markel by 12.9% during the second quarter. Arizona State Retirement System now owns 7,410 shares of the insurance provider’s stock valued at $8,035,000 after acquiring an additional 846 shares during the period. Douglass Winthrop Advisors LLC boosted its holdings in shares of Markel by 1.5% during the second quarter. Douglass Winthrop Advisors LLC now owns 63,583 shares of the insurance provider’s stock valued at $68,946,000 after acquiring an additional 930 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Markel by 24.5% during the second quarter. State of Alaska Department of Revenue now owns 2,895 shares of the insurance provider’s stock valued at $3,137,000 after acquiring an additional 570 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Markel by 4.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 1,065 shares of the insurance provider’s stock valued at $1,155,000 after acquiring an additional 48 shares during the period. 79.03% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Richard R. Whitt III sold 500 shares of Markel stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $1,202.80, for a total transaction of $601,400.00. Following the sale, the chief executive officer now directly owns 10,444 shares in the company, valued at $12,562,043.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alan I. Kirshner sold 100 shares of Markel stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total transaction of $119,055.00. Following the sale, the insider now owns 23,650 shares in the company, valued at $28,156,507.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,400 shares of company stock worth $1,665,455. Company insiders own 2.46% of the company’s stock.
Shares of NYSE MKL opened at $1,131.20 on Friday. Markel Co. has a fifty-two week low of $1,049.95 and a fifty-two week high of $1,228.32. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32. The stock has a market cap of $16.50 billion, a P/E ratio of 312.49 and a beta of 0.96.
Markel (NYSE:MKL) last issued its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, beating analysts’ consensus estimates of $8.49 by $11.48. Markel had a net margin of 5.79% and a return on equity of 2.89%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.68 billion. As a group, analysts predict that Markel Co. will post 39.02 earnings per share for the current fiscal year.
MKL has been the subject of several analyst reports. Boenning Scattergood reissued a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Markel from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, ValuEngine raised shares of Markel from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $1,252.75.
Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. It operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. The U.S. Insurance segment offers general and professional liability, property, personal line, program, and workers' compensation insurance products, as well as other insurance product lines, such as ocean marine, surety, CPI, and coverages.
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