New York State Common Retirement Fund lessened its position in Markel Co. (NYSE:MKL) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 32,478 shares of the insurance provider’s stock after selling 750 shares during the period. New York State Common Retirement Fund’s holdings in Markel were worth $32,356,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Markel by 4.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 62,134 shares of the insurance provider’s stock valued at $61,900,000 after buying an additional 2,702 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in Markel by 0.3% in the first quarter. Motley Fool Asset Management LLC now owns 8,104 shares of the insurance provider’s stock worth $8,074,000 after purchasing an additional 21 shares during the last quarter. Farmers National Bank purchased a new position in Markel in the first quarter worth $85,000. MCF Advisors LLC boosted its position in Markel by 52.0% in the first quarter. MCF Advisors LLC now owns 38 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 13 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in Markel by 1.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,134 shares of the insurance provider’s stock worth $1,129,000 after purchasing an additional 21 shares during the last quarter. 75.95% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on MKL. Zacks Investment Research cut Markel from a “hold” rating to a “sell” rating in a research report on Thursday. Deutsche Bank began coverage on Markel in a research report on Thursday. They issued a “hold” rating and a $1,000.00 price objective on the stock. SunTrust Banks boosted their price objective on Markel to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. ValuEngine raised Markel from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, TheStreet cut Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $1,130.25.
MKL stock opened at $1,059.55 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.55. Markel Co. has a 1-year low of $950.16 and a 1-year high of $1,228.32. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 51.61 and a beta of 0.87.
In other Markel news, CAO Nora N. Crouch sold 50 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $985.27, for a total value of $49,263.50. Following the sale, the chief accounting officer now directly owns 2,413 shares in the company, valued at $2,377,456.51. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Steven A. Markel sold 80 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,000.86, for a total value of $80,068.80. Following the completion of the sale, the insider now owns 101,265 shares in the company, valued at $101,352,087.90. The disclosure for this sale can be found here. In the last three months, insiders acquired 400 shares of company stock worth $398,556 and sold 1,393 shares worth $1,398,416. 2.34% of the stock is currently owned by insiders.
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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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