Brave Asset Management Inc. lessened its holdings in shares of Markel Co. (NYSE:MKL) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300 shares of the insurance provider’s stock after selling 100 shares during the period. Brave Asset Management Inc.’s holdings in Markel were worth $320,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Aureus Asset Management LLC acquired a new position in Markel during the third quarter worth $844,000. Invictus RG acquired a new position in Markel during the third quarter worth $267,000. Tredje AP fonden grew its holdings in Markel by 2.7% during the third quarter. Tredje AP fonden now owns 3,860 shares of the insurance provider’s stock worth $4,122,000 after acquiring an additional 100 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Markel by 5.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,034 shares of the insurance provider’s stock valued at $2,172,000 after purchasing an additional 100 shares during the last quarter. Finally, KBC Group NV grew its holdings in Markel by 27.2% in the third quarter. KBC Group NV now owns 1,566 shares of the insurance provider’s stock valued at $1,672,000 after purchasing an additional 335 shares during the last quarter. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
Markel Co. (MKL) traded up $0.05 during trading on Tuesday, reaching $1,112.46. The company’s stock had a trading volume of 39,600 shares, compared to its average volume of 6,214. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $15,453.49, a price-to-earnings ratio of 364.73 and a beta of 1.05. Markel Co. has a 12 month low of $612.00 and a 12 month high of $1,124.22.
In other news, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $1,078.70, for a total value of $215,740.00. Following the sale, the insider now directly owns 108,761 shares in the company, valued at $117,320,490.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lemuel E. Lewis acquired 1,000 shares of Markel stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $1,080.96 per share, for a total transaction of $1,080,960.00. Following the completion of the transaction, the director now directly owns 5,294 shares of the company’s stock, valued at $5,722,602.24. The disclosure for this purchase can be found here. Insiders sold 1,269 shares of company stock worth $1,366,344 in the last three months. 2.53% of the stock is owned by corporate insiders.
MKL has been the topic of several research reports. Boenning Scattergood reissued a “buy” rating on shares of Markel in a report on Thursday, October 26th. SunTrust Banks reissued a “hold” rating and issued a $1,100.00 target price on shares of Markel in a report on Friday, October 27th. Zacks Investment Research lowered Markel from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $1,050.00 target price on shares of Markel in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Markel currently has a consensus rating of “Hold” and an average target price of $1,066.67.
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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.
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