Envestnet Asset Management Inc. lessened its stake in Markel Co. (NYSE:MKL) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,049 shares of the insurance provider’s stock after selling 102 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Markel were worth $5,898,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Markel by 0.3% during the 4th quarter. BlackRock Inc. now owns 845,404 shares of the insurance provider’s stock valued at $963,025,000 after buying an additional 2,155 shares during the last quarter. Bessemer Group Inc. increased its position in Markel by 1.3% in the fourth quarter. Bessemer Group Inc. now owns 179,515 shares of the insurance provider’s stock worth $204,491,000 after buying an additional 2,314 shares during the period. Victory Capital Management Inc. increased its position in Markel by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 175,898 shares of the insurance provider’s stock worth $200,371,000 after buying an additional 13,480 shares during the period. Mar Vista Investment Partners LLC increased its position in Markel by 15.9% in the fourth quarter. Mar Vista Investment Partners LLC now owns 133,921 shares of the insurance provider’s stock worth $152,553,000 after buying an additional 18,326 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Markel by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 114,754 shares of the insurance provider’s stock valued at $130,643,000 after purchasing an additional 999 shares during the period. Institutional investors own 76.26% of the company’s stock.
MKL has been the subject of several research reports. ValuEngine raised Markel from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Argus started coverage on Markel in a research report on Wednesday, April 11th. They issued a “hold” rating for the company. Zacks Investment Research upgraded Markel from a “hold” rating to a “buy” rating and set a $1,287.00 price target for the company in a research report on Wednesday, April 11th. William Blair upgraded Markel from a “market perform” rating to an “outperform” rating in a research report on Monday, March 19th. Finally, Boenning Scattergood set a $1,250.00 price target on Markel and gave the company a “buy” rating in a research report on Friday, April 27th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Markel currently has a consensus rating of “Buy” and a consensus price target of $1,237.50.
Markel opened at $1,148.96 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. Markel Co. has a 1-year low of $949.72 and a 1-year high of $1,194.98. The firm has a market capitalization of $16.00 billion, a P/E ratio of 317.39 and a beta of 0.89.
In related news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $1,147.55, for a total value of $229,510.00. Following the completion of the sale, the insider now directly owns 105,040 shares of the company’s stock, valued at approximately $120,538,652. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Schewel acquired 225 shares of Markel stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $1,114.90 per share, with a total value of $250,852.50. Following the completion of the purchase, the director now owns 5,990 shares in the company, valued at approximately $6,678,251. The disclosure for this purchase can be found here. Insiders sold a total of 1,300 shares of company stock valued at $1,488,698 in the last quarter. 2.46% of the stock is currently owned by corporate insiders.
Markel Company Profile
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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