Janney Montgomery Scott LLC decreased its holdings in Markel Co. (NYSE:MKL) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,426 shares of the insurance provider’s stock after selling 104 shares during the period. Janney Montgomery Scott LLC’s holdings in Markel were worth $5,795,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC lifted its holdings in shares of Markel by 40.3% in the 2nd quarter. Proficio Capital Partners LLC now owns 94 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 27 shares during the last quarter. Korea Investment CORP lifted its holdings in shares of Markel by 138.9% in the 2nd quarter. Korea Investment CORP now owns 129 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 75 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Markel in the 2nd quarter valued at about $166,000. Toronto Dominion Bank lifted its holdings in shares of Markel by 11.0% in the 2nd quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 17 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of Markel in the 3rd quarter valued at about $202,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
Markel Co. (MKL) traded down $1.15 during trading on Thursday, reaching $1,120.54. 53,400 shares of the company were exchanged, compared to its average volume of 7,033. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.55 and a quick ratio of 0.55. Markel Co. has a 12 month low of $612.00 and a 12 month high of $1,133.99. The stock has a market cap of $15,582.40, a price-to-earnings ratio of 367.77 and a beta of 1.05.
In related news, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $1,065.64, for a total value of $213,128.00. Following the sale, the insider now directly owns 109,550 shares of the company’s stock, valued at approximately $116,740,862. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lemuel E. Lewis acquired 1,000 shares of Markel stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $1,080.96 per share, for a total transaction of $1,080,960.00. Following the completion of the transaction, the director now directly owns 5,294 shares in the company, valued at $5,722,602.24. The disclosure for this purchase can be found here. Insiders sold a total of 2,307 shares of company stock worth $2,510,338 over the last three months. 2.53% of the stock is currently owned by corporate insiders.
MKL has been the subject of a number of analyst reports. SunTrust Banks reaffirmed a “hold” rating and issued a $1,100.00 price target on shares of Markel in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $1,050.00 price target on shares of Markel in a report on Tuesday, October 3rd. Boenning Scattergood reaffirmed a “buy” rating on shares of Markel in a report on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of Markel from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Markel has an average rating of “Hold” and an average target price of $1,066.67.
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. It monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance. The Company, through its subsidiary Markel Ventures, Inc (Markel Ventures), owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace.
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