Xact Kapitalforvaltning AB lowered its stake in shares of Markel Co. (NYSE:MKL) by 7.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,319 shares of the insurance provider’s stock after selling 109 shares during the period. Xact Kapitalforvaltning AB’s holdings in Markel were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in MKL. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Markel during the second quarter worth approximately $21,427,000. Renaissance Technologies LLC boosted its position in shares of Markel by 10.4% in the second quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after acquiring an additional 18,680 shares during the period. Janus Henderson Group PLC boosted its position in shares of Markel by 118.9% in the second quarter. Janus Henderson Group PLC now owns 30,897 shares of the insurance provider’s stock valued at $33,505,000 after acquiring an additional 16,781 shares during the period. California Public Employees Retirement System boosted its position in shares of Markel by 26.7% in the second quarter. California Public Employees Retirement System now owns 37,285 shares of the insurance provider’s stock valued at $40,430,000 after acquiring an additional 7,855 shares during the period. Finally, Baskin Financial Services Inc. boosted its position in shares of Markel by 2,079.4% in the second quarter. Baskin Financial Services Inc. now owns 7,933 shares of the insurance provider’s stock valued at $8,602,000 after acquiring an additional 7,569 shares during the period. 75.88% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on MKL. Zacks Investment Research cut Markel from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine cut Markel from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Markel in a research report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $1,265.25.
In other news, CEO Richard R. Whitt III sold 500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,202.80, for a total value of $601,400.00. Following the completion of the sale, the chief executive officer now directly owns 10,444 shares of the company’s stock, valued at $12,562,043.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan I. Kirshner sold 100 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total value of $119,055.00. Following the completion of the sale, the insider now directly owns 23,650 shares of the company’s stock, valued at $28,156,507.50. The disclosure for this sale can be found here. Insiders sold 1,000 shares of company stock valued at $1,199,675 over the last three months. 2.53% of the stock is owned by company insiders.
MKL opened at $1,079.71 on Friday. Markel Co. has a 1-year low of $1,020.00 and a 1-year high of $1,228.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.59 and a quick ratio of 0.58. The company has a market capitalization of $15.18 billion, a PE ratio of 16.44 and a beta of 1.01.
Markel (NYSE:MKL) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $28.50 earnings per share for the quarter, beating the consensus estimate of $7.05 by $21.45. Markel had a return on equity of 9.72% and a net margin of 14.03%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. As a group, sell-side analysts predict that Markel Co. will post 36.94 EPS for the current year.
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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