view original post

Advisory Services Network LLC reduced its stake in shares of Markel Co. (NYSE:MKL) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 707 shares of the insurance provider’s stock after selling 22 shares during the quarter. Advisory Services Network LLC’s holdings in Markel were worth $845,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its position in Markel by 0.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,658 shares of the insurance provider’s stock worth $9,622,000 after acquiring an additional 56 shares during the period. American Century Companies Inc. raised its holdings in shares of Markel by 62.2% in the second quarter. American Century Companies Inc. now owns 378 shares of the insurance provider’s stock valued at $449,000 after buying an additional 145 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Markel by 13.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,559 shares of the insurance provider’s stock valued at $3,037,000 after buying an additional 297 shares during the last quarter. JTC Employer Solutions Trusteee Ltd bought a new stake in Markel during the 2nd quarter worth about $83,000. Finally, Rafferty Asset Management LLC raised its holdings in Markel by 12.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,674 shares of the insurance provider’s stock worth $9,107,000 after purchasing an additional 861 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

MKL has been the subject of a number of recent analyst reports. Zacks Investment Research cut Markel from a “strong-buy” rating to a “hold” rating and set a $1,380.00 price target for the company. in a research note on Tuesday, October 5th. Boenning Scattergood downgraded Markel from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 3rd. Truist Securities increased their price objective on Markel from $1,350.00 to $1,400.00 and gave the company a “hold” rating in a report on Monday, November 8th. Finally, Royal Bank of Canada increased their price objective on Markel from $1,450.00 to $1,550.00 and gave the company an “outperform” rating in a report on Thursday, November 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,321.00.

In other news, Director Steven A. Markel sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 14th. The stock was sold at an average price of $1,295.82, for a total value of $1,943,730.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Sinnickson Gayner acquired 25 shares of Markel stock in a transaction that occurred on Monday, November 22nd. The shares were bought at an average cost of $1,251.30 per share, with a total value of $31,282.50. The disclosure for this purchase can be found here. Insiders sold a total of 4,750 shares of company stock worth $6,188,208 over the last 90 days. Corporate insiders own 1.97% of the company’s stock.

Shares of MKL opened at $1,254.75 on Friday. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 7.23 and a beta of 0.74. The business has a 50-day moving average of $1,249.81 and a 200-day moving average of $1,244.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.67 and a quick ratio of 0.67. Markel Co. has a 1 year low of $942.44 and a 1 year high of $1,343.56.

Markel (NYSE:MKL) last posted its quarterly earnings data on Monday, November 1st. The insurance provider reported $16.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.84 by $4.70. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Markel had a return on equity of 6.32% and a net margin of 19.30%. During the same quarter in the previous year, the firm earned $4.41 earnings per share. As a group, sell-side analysts anticipate that Markel Co. will post 58.75 EPS for the current year.

About Markel

Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the following segments: Insurance and Reinsurance. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.

Further Reading: When is a capital gain realized?

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Co. (NYSE:MKL).

Want More Great Investing Ideas?