BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Markel Co. (NYSE:MKL) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,498 shares of the insurance provider’s stock after acquiring an additional 439 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Markel were worth $3,631,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. CX Institutional purchased a new position in Markel in the 4th quarter worth about $31,000. Rockland Trust Co. purchased a new position in Markel in the 4th quarter worth about $34,000. Lindbrook Capital LLC purchased a new position in Markel in the 4th quarter worth about $45,000. We Are One Seven LLC purchased a new position in Markel in the 4th quarter worth about $49,000. Finally, Paradigm Asset Management Co. LLC purchased a new position in Markel in the 3rd quarter worth about $59,000. 75.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MKL opened at $1,004.73 on Friday. The stock has a market capitalization of $13.73 billion, a P/E ratio of 48.94 and a beta of 0.86. Markel Co. has a 1-year low of $950.16 and a 1-year high of $1,228.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.54 and a current ratio of 0.54.
Markel (NYSE:MKL) last issued its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $2.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.31 by ($1.04). Markel had a positive return on equity of 9.15% and a negative net margin of 2.02%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. As a group, equities analysts forecast that Markel Co. will post 39.04 EPS for the current year.
In other Markel news, CAO Nora N. Crouch sold 50 shares of Markel stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $985.27, for a total transaction of $49,263.50. Following the transaction, the chief accounting officer now owns 2,413 shares of the company’s stock, valued at approximately $2,377,456.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Steven A. Markel sold 100 shares of Markel stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $1,062.76, for a total value of $106,276.00. Following the transaction, the insider now directly owns 101,925 shares in the company, valued at approximately $108,321,813. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,330 shares of company stock worth $1,364,167. Company insiders own 2.46% of the company’s stock.
A number of equities analysts recently weighed in on the company. TheStreet cut Markel from a “b” rating to a “c” rating in a research note on Wednesday, February 6th. Zacks Investment Research raised Markel from a “hold” rating to a “buy” rating and set a $1,163.00 price target on the stock in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $1,231.50.
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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. 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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