US Bancorp DE increased its position in shares of Markel Co. (NYSE:MKL) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,983 shares of the insurance provider’s stock after acquiring an additional 648 shares during the quarter. US Bancorp DE’s holdings in Markel were worth $4,537,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of Markel by 11.0% during the second quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 17 shares in the last quarter. Cambridge Trust Co. increased its stake in shares of Markel by 10.8% during the third quarter. Cambridge Trust Co. now owns 512 shares of the insurance provider’s stock worth $547,000 after buying an additional 50 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Markel by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 549 shares of the insurance provider’s stock worth $535,000 after buying an additional 52 shares during the period. First Personal Financial Services increased its stake in shares of Markel by 156.1% during the fourth quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock worth $120,000 after buying an additional 64 shares during the period. Finally, Global X MANAGEMENT CO LLC increased its stake in shares of Markel by 18.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 512 shares of the insurance provider’s stock worth $547,000 after buying an additional 78 shares during the period. 76.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $1,078.70, for a total transaction of $215,740.00. Following the completion of the sale, the insider now directly owns 108,761 shares of the company’s stock, valued at $117,320,490.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard R. Whitt III sold 300 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $1,060.02, for a total value of $318,006.00. Following the completion of the sale, the chief executive officer now directly owns 9,652 shares of the company’s stock, valued at approximately $10,231,313.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,638 shares of company stock worth $2,911,118. Insiders own 2.53% of the company’s stock.
Shares of Markel Co. (NYSE:MKL) traded down $2.88 on Monday, hitting $1,130.06. 28,000 shares of the stock were exchanged, compared to its average volume of 40,748. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $15,712.36, a price-to-earnings ratio of 43.83 and a beta of 0.95. Markel Co. has a twelve month low of $936.95 and a twelve month high of $1,157.30.
MKL has been the topic of a number of recent research reports. Boenning Scattergood restated a “buy” rating on shares of Markel in a research note on Thursday, October 26th. SunTrust Banks reiterated a “hold” rating and issued a $1,100.00 price target on shares of Markel in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,253.00 price target on the stock in a research note on Friday, January 5th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $1,200.00 price target on shares of Markel in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $1,172.00.
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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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