Weitz Investment Management Inc. grew its position in shares of Markel Co. (NYSE:MKL) by 30.0% during the first quarter, Holdings Channel reports. The institutional investor owned 13,000 shares of the insurance provider’s stock after buying an additional 3,000 shares during the quarter. Weitz Investment Management Inc.’s holdings in Markel were worth $12,951,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Advisory Alpha LLC bought a new stake in shares of Markel in the 1st quarter worth approximately $28,000. MCF Advisors LLC lifted its holdings in shares of Markel by 52.0% in the 1st quarter. MCF Advisors LLC now owns 38 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 13 shares during the last quarter. Lindbrook Capital LLC bought a new stake in shares of Markel in the 4th quarter worth approximately $45,000. Parallel Advisors LLC lifted its holdings in shares of Markel by 31.3% in the 4th quarter. Parallel Advisors LLC now owns 63 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 15 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Markel in the 1st quarter worth approximately $76,000. 76.22% of the stock is currently owned by institutional investors.
Shares of NYSE MKL traded up $1.32 during mid-day trading on Friday, hitting $1,082.64. The company had a trading volume of 5,308 shares, compared to its average volume of 48,594. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 52.73 and a beta of 0.83. Markel Co. has a 12 month low of $950.16 and a 12 month high of $1,228.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.
Markel (NYSE:MKL) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $9.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.41 by ($0.17). The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Markel had a return on equity of 8.76% and a net margin of 6.73%. As a group, equities analysts forecast that Markel Co. will post 37.72 earnings per share for the current fiscal year.
MKL has been the topic of several recent research reports. ValuEngine downgraded Markel from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Zacks Investment Research downgraded Markel from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. SunTrust Banks raised their price target on Markel to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. TheStreet raised Markel from a “c” rating to a “b-” rating in a report on Thursday, May 9th. Finally, Deutsche Bank initiated coverage on Markel in a report on Thursday, May 23rd. They issued a “hold” rating and a $1,000.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $1,130.25.
In other Markel news, Vice Chairman Steven A. Markel sold 100 shares of Markel stock in a transaction on Monday, March 18th. The stock was sold at an average price of $1,014.04, for a total transaction of $101,404.00. Following the sale, the insider now owns 101,121 shares of the company’s stock, valued at approximately $102,540,738.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan I. Kirshner sold 200 shares of Markel stock in a transaction on Friday, April 12th. The shares were sold at an average price of $1,002.50, for a total value of $200,500.00. Following the sale, the insider now directly owns 21,985 shares in the company, valued at approximately $22,039,962.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,043 shares of company stock worth $1,048,642 in the last ninety days. 2.34% of the stock is owned by company insiders.
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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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