Steginsky Capital LLC increased its position in shares of Markel Co. (NYSE:MKL) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,099 shares of the insurance provider’s stock after acquiring an additional 996 shares during the period. Markel makes up about 13.6% of Steginsky Capital LLC’s investment portfolio, making the stock its 4th largest position. Steginsky Capital LLC’s holdings in Markel were worth $20,810,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Advisory Alpha LLC acquired a new position in shares of Markel in the 1st quarter valued at $28,000. MCF Advisors LLC boosted its position in shares of Markel by 52.0% in the 1st quarter. MCF Advisors LLC now owns 38 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 13 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Markel in the 2nd quarter valued at $40,000. Lindbrook Capital LLC boosted its position in shares of Markel by 45.5% in the 1st quarter. Lindbrook Capital LLC now owns 64 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 20 shares during the period. Finally, NEXT Financial Group Inc boosted its position in Markel by 40.4% during the 2nd quarter. NEXT Financial Group Inc now owns 66 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 19 shares during the period. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Vice Chairman Anthony F. Markel sold 41 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,118.24, for a total transaction of $45,847.84. Following the completion of the sale, the insider now directly owns 99,338 shares of the company’s stock, valued at approximately $111,083,725.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven A. Markel sold 1,368 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $1,114.64, for a total value of $1,524,827.52. Following the sale, the insider now directly owns 99,338 shares of the company’s stock, valued at $110,726,108.32. The disclosure for this sale can be found here. Insiders have sold a total of 5,464 shares of company stock valued at $6,066,377 over the last 90 days. Corporate insiders own 2.34% of the company’s stock.
NYSE MKL traded up $9.69 during trading on Thursday, reaching $1,124.98. 673 shares of the company’s stock were exchanged, compared to its average volume of 38,479. Markel Co. has a fifty-two week low of $950.16 and a fifty-two week high of $1,228.32. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 54.48 and a beta of 0.79. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $1,109.42.
A number of brokerages have commented on MKL. Deutsche Bank began coverage on Markel in a research report on Thursday, May 23rd. They set a “hold” rating and a $1,000.00 price objective for the company. Boenning Scattergood restated an “outperform” rating on shares of Markel in a research report on Monday, July 1st. TheStreet upgraded Markel from a “c” rating to a “b-” rating in a research report on Thursday, May 9th. SunTrust Banks raised their price objective on Markel to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research lowered Markel from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Markel presently has an average rating of “Hold” and an average price target of $1,130.25.
Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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