Fenimore Asset Management Inc. Boosts Position in Markel Co. (MKL)

Fenimore Asset Management Inc. boosted its holdings in shares of Markel Co. (NYSE:MKL) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,280 shares of the insurance provider’s stock after purchasing an additional 3,352 shares during the period. Markel comprises approximately 3.7% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Fenimore Asset Management Inc. owned approximately 0.63% of Markel worth $90,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital International Investors purchased a new position in Markel in the third quarter valued at $214,199,000. Renaissance Technologies LLC increased its holdings in Markel by 11.5% in the third quarter. Renaissance Technologies LLC now owns 222,021 shares of the insurance provider’s stock valued at $263,870,000 after buying an additional 22,980 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Markel by 6.3% in the third quarter. Victory Capital Management Inc. now owns 181,960 shares of the insurance provider’s stock valued at $216,258,000 after buying an additional 10,850 shares in the last quarter. BlackRock Inc. increased its holdings in Markel by 1.3% in the third quarter. BlackRock Inc. now owns 848,938 shares of the insurance provider’s stock valued at $1,008,953,000 after buying an additional 10,618 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Markel by 31.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 38,620 shares of the insurance provider’s stock valued at $45,900,000 after buying an additional 9,245 shares in the last quarter. Institutional investors own 75.53% of the company’s stock.

In related news, insider Alan I. Kirshner sold 200 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $1,020.82, for a total transaction of $204,164.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Steven A. Markel sold 100 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $1,035.99, for a total transaction of $103,599.00. The disclosure for this sale can be found here. Insiders have sold 849 shares of company stock valued at $880,670 in the last three months. Corporate insiders own 2.46% of the company’s stock.

A number of research firms have weighed in on MKL. Zacks Investment Research raised shares of Markel from a “hold” rating to a “buy” rating and set a $1,163.00 price objective for the company in a report on Wednesday, January 2nd. ValuEngine cut shares of Markel from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Boenning Scattergood set a $1,300.00 price objective on shares of Markel and gave the company a “buy” rating in a report on Wednesday, October 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $1,215.75.

Shares of MKL stock traded down $6.66 on Friday, reaching $1,034.82. 719 shares of the company were exchanged, compared to its average volume of 46,227. The stock has a market capitalization of $14.43 billion, a P/E ratio of 285.78 and a beta of 1.01. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.31. Markel Co. has a 1 year low of $954.39 and a 1 year high of $1,228.32.

Markel (NYSE:MKL) last released its earnings results on Tuesday, October 30th. The insurance provider reported $28.50 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $21.45. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Markel had a net margin of 14.03% and a return on equity of 9.72%. On average, analysts expect that Markel Co. will post 29.49 earnings per share for the current year.

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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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