Union Bankshares Corp cut its stake in Markel Co. (NYSE:MKL) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346 shares of the insurance provider’s stock after selling 100 shares during the period. Union Bankshares Corp’s holdings in Markel were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of MKL. Vanguard Group Inc. boosted its holdings in shares of Markel by 2.6% in the second quarter. Vanguard Group Inc. now owns 1,129,189 shares of the insurance provider’s stock valued at $1,101,931,000 after buying an additional 28,104 shares during the period. BlackRock Inc. boosted its holdings in shares of Markel by 0.4% in the second quarter. BlackRock Inc. now owns 836,138 shares of the insurance provider’s stock valued at $815,955,000 after buying an additional 3,590 shares during the period. Principal Financial Group Inc. boosted its holdings in Markel by 0.9% during the third quarter. Principal Financial Group Inc. now owns 665,259 shares of the insurance provider’s stock worth $710,484,000 after purchasing an additional 6,092 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in Markel by 0.6% during the third quarter. Atlanta Capital Management Co. L L C now owns 567,924 shares of the insurance provider’s stock worth $606,532,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Broad Run Investment Management LLC boosted its holdings in Markel by 1.1% during the second quarter. Broad Run Investment Management LLC now owns 257,017 shares of the insurance provider’s stock worth $250,813,000 after purchasing an additional 2,695 shares during the last quarter. 76.79% of the stock is owned by institutional investors and hedge funds.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $1,115.78, for a total transaction of $223,156.00. Following the completion of the transaction, the insider now owns 106,712 shares in the company, valued at approximately $119,067,115.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lemuel E. Lewis purchased 1,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $1,080.96 per share, with a total value of $1,080,960.00. Following the acquisition, the director now owns 5,294 shares in the company, valued at approximately $5,722,602.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,307 shares of company stock worth $2,535,956. 2.53% of the stock is owned by corporate insiders.
Markel (NYSE:MKL) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($18.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($18.03) by ($0.79). Markel had a net margin of 1.60% and a return on equity of 0.83%. equities analysts predict that Markel Co. will post 5.56 earnings per share for the current fiscal year.
Several brokerages recently commented on MKL. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,253.00 target price for the company in a report on Friday, January 5th. SunTrust Banks reaffirmed a “hold” rating and set a $1,100.00 price target on shares of Markel in a research report on Friday, October 27th. Royal Bank of Canada reissued a “hold” rating and issued a $1,050.00 price objective on shares of Markel in a research report on Tuesday, October 3rd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Markel has an average rating of “Buy” and a consensus target price of $1,109.50.
Markel Company Profile
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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