Tredje AP fonden boosted its holdings in shares of Markel Co. (NYSE:MKL) by 6.2% during the first quarter, Holdings Channel reports. The fund owned 4,780 shares of the insurance provider’s stock after purchasing an additional 280 shares during the quarter. Tredje AP fonden’s holdings in Markel were worth $5,594,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Aevitas Wealth Management Inc. bought a new stake in Markel during the 4th quarter worth approximately $108,000. First Personal Financial Services grew its holdings in Markel by 156.1% during the 4th quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock worth $120,000 after acquiring an additional 64 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Markel during the 4th quarter worth approximately $122,000. Cigna Investments Inc. New bought a new stake in Markel during the 4th quarter worth approximately $201,000. Finally, Homrich & Berg bought a new stake in Markel during the 4th quarter worth approximately $203,000. 78.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:MKL traded down $1.49 during trading on Friday, reaching $1,121.52. The stock had a trading volume of 10 shares, compared to its average volume of 32,694. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. Markel Co. has a 52 week low of $1,122.60 and a 52 week high of $1,137.69. The firm has a market cap of $15.70 billion, a P/E ratio of 310.22 and a beta of 0.89.
In related news, Director Michael Jay Schewel bought 225 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average price of $1,114.90 per share, for a total transaction of $250,852.50. Following the transaction, the director now directly owns 5,990 shares of the company’s stock, valued at $6,678,251. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Steven A. Markel sold 200 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $1,147.55, for a total transaction of $229,510.00. Following the transaction, the insider now owns 105,040 shares in the company, valued at approximately $120,538,652. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,300 shares of company stock worth $1,488,698. Insiders own 2.53% of the company’s stock.
A number of research firms have recently commented on MKL. ValuEngine raised shares of Markel from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Argus began coverage on shares of Markel in a research note on Wednesday, April 11th. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Markel from a “hold” rating to a “buy” rating and set a $1,287.00 price objective on the stock in a research note on Wednesday, April 11th. William Blair raised shares of Markel from a “market perform” rating to an “outperform” rating in a research note on Monday, March 19th. Finally, Boenning Scattergood set a $1,250.00 price objective on shares of Markel and gave the company a “buy” rating in a research note on Friday, April 27th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,237.50.
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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