Weitz Investment Management Inc. Buys 3,500 Shares of Markel Co. (MKL)

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Weitz Investment Management Inc. boosted its stake in Markel Co. (NYSE:MKL) by 140.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,000 shares of the insurance provider’s stock after purchasing an additional 3,500 shares during the period. Weitz Investment Management Inc.’s holdings in Markel were worth $6,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sei Investments Co. increased its holdings in Markel by 6.7% in the second quarter. Sei Investments Co. now owns 686 shares of the insurance provider’s stock valued at $744,000 after purchasing an additional 43 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in Markel by 4.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 1,065 shares of the insurance provider’s stock valued at $1,155,000 after purchasing an additional 48 shares during the period. First Capital Advisors Group LLC. increased its holdings in Markel by 15.2% in the second quarter. First Capital Advisors Group LLC. now owns 386 shares of the insurance provider’s stock valued at $419,000 after purchasing an additional 51 shares during the period. Signition LP increased its holdings in Markel by 25.7% in the first quarter. Signition LP now owns 264 shares of the insurance provider’s stock valued at $309,000 after purchasing an additional 54 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Markel by 0.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,559 shares of the insurance provider’s stock valued at $9,282,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Shares of MKL opened at $1,201.75 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 331.47 and a beta of 0.95. Markel Co. has a 12 month low of $995.30 and a 12 month high of $1,228.32.

Markel (NYSE:MKL) last issued its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $19.97 EPS for the quarter, beating the Zacks’ consensus estimate of $8.49 by $11.48. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Markel had a net margin of 5.79% and a return on equity of 2.89%. sell-side analysts predict that Markel Co. will post 39.02 EPS for the current year.

A number of analysts recently weighed in on the company. ValuEngine upgraded Markel from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Boenning Scattergood restated a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Markel from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $1,237.50.

In other Markel news, insider Alan I. Kirshner sold 100 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $1,085.92, for a total transaction of $108,592.00. Following the sale, the insider now owns 23,750 shares of the company’s stock, valued at $25,790,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $1,198.90, for a total transaction of $239,780.00. Following the sale, the insider now directly owns 103,440 shares in the company, valued at approximately $124,014,216. The disclosure for this sale can be found here. Insiders have sold 1,500 shares of company stock worth $1,710,608 in the last ninety days. Insiders own 2.46% of the company’s stock.

About Markel

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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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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