Arizona State Retirement System raised its holdings in Markel Co. (NYSE:MKL) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,410 shares of the insurance provider’s stock after acquiring an additional 846 shares during the quarter. Arizona State Retirement System owned approximately 0.05% of Markel worth $8,035,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in MKL. Summit Trail Advisors LLC grew its position in Markel by 115,809.3% in the 1st quarter. Summit Trail Advisors LLC now owns 224,864 shares of the insurance provider’s stock valued at $225,000 after acquiring an additional 224,670 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Markel by 92.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 94,666 shares of the insurance provider’s stock valued at $110,783,000 after acquiring an additional 45,514 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Markel in the 2nd quarter valued at $21,427,000. Baskin Financial Services Inc. grew its position in Markel by 2,079.4% in the 2nd 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 last quarter. Finally, Principal Financial Group Inc. grew its position in Markel by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after acquiring an additional 6,453 shares during the last quarter. 76.58% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $1,197.20, for a total transaction of $239,440.00. Following the transaction, the insider now owns 103,650 shares of the company’s stock, valued at approximately $124,089,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alan I. Kirshner sold 100 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $1,085.92, for a total value of $108,592.00. Following the transaction, the insider now directly owns 23,750 shares in the company, valued at approximately $25,790,600. The disclosure for this sale can be found here. Insiders have sold a total of 1,500 shares of company stock worth $1,698,040 in the last three months. Corporate insiders own 2.46% of the company’s stock.
MKL opened at $1,211.43 on Tuesday. Markel Co. has a 12-month low of $995.30 and a 12-month high of $1,226.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $16.46 billion, a PE ratio of 334.65 and a beta of 0.96.
Several brokerages have commented on MKL. Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a research report on Wednesday, August 1st. Zacks Investment Research downgraded Markel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, ValuEngine raised Markel from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $1,237.50.
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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