Standard Life Aberdeen plc lifted its position in Markel Co. (NYSE:MKL) by 39.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,918 shares of the insurance provider’s stock after purchasing an additional 825 shares during the quarter. Standard Life Aberdeen plc’s holdings in Markel were worth $3,164,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of MKL. Summit Trail Advisors LLC raised its stake in shares of Markel by 115,809.3% in the first quarter. Summit Trail Advisors LLC now owns 224,864 shares of the insurance provider’s stock valued at $225,000 after purchasing an additional 224,670 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Markel by 92.6% in the first quarter. Thrivent Financial for Lutherans now owns 94,666 shares of the insurance provider’s stock valued at $110,783,000 after purchasing an additional 45,514 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Markel in the second quarter valued at $21,427,000. Baskin Financial Services Inc. raised its stake in shares of Markel by 2,079.4% in the second quarter. Baskin Financial Services Inc. now owns 7,933 shares of the insurance provider’s stock valued at $8,602,000 after purchasing an additional 7,569 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Markel by 1.0% in the first quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after purchasing an additional 6,453 shares in the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.
Shares of NYSE:MKL opened at $1,200.44 on Friday. Markel Co. has a fifty-two week low of $995.30 and a fifty-two week high of $1,228.32. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 63.01 and a beta of 0.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32.
Markel (NYSE:MKL) last announced its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, beating analysts’ consensus estimates of $8.49 by $11.48. Markel had a return on equity of 2.89% and a net margin of 5.79%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.68 billion. research analysts predict that Markel Co. will post 39.02 EPS for the current fiscal year.
A number of research analysts recently commented on the company. ValuEngine upgraded Markel from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Boenning Scattergood restated a “buy” rating on shares of Markel in a research note on Wednesday, August 1st. Finally, Zacks Investment Research lowered Markel from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. One investment 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 has an average rating of “Hold” and an average price target of $1,237.50.
In other news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $1,083.74, for a total transaction of $216,748.00. Following the sale, the insider now owns 104,180 shares in the company, valued at $112,904,033.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the insider now owns 23,750 shares in the company, valued at approximately $25,790,600. The disclosure for this sale can be found here. Insiders sold 1,800 shares of company stock worth $2,090,226 over the last quarter. Company insiders own 2.53% of the company’s stock.
Markel Company Profile
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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