Palladium Partners LLC lessened its stake in Markel Co. (NYSE:MKL) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,676 shares of the insurance provider’s stock after selling 297 shares during the quarter. Palladium Partners LLC’s holdings in Markel were worth $1,916,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Security National Trust Co. purchased a new position in shares of Markel in the fourth quarter valued at $26,000. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Markel during the third quarter worth about $30,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Markel during the third quarter worth about $31,000. Wealthcare Advisory Partners LLC increased its position in shares of Markel by 52.6% during the third quarter. Wealthcare Advisory Partners LLC now owns 29 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 10 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of Markel in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
Shares of NYSE:MKL traded up $3.27 during midday trading on Friday, reaching $1,323.00. The company had a trading volume of 1,059 shares, compared to its average volume of 38,070. The stock has a market capitalization of $17.88 billion, a P/E ratio of 10.26 and a beta of 0.73. The stock’s fifty day moving average price is $1,190.88 and its 200-day moving average price is $1,155.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.60. Markel Co. has a one year low of $950.16 and a one year high of $1,321.41.
Markel (NYSE:MKL) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $36.26 EPS for the quarter, beating the Zacks’ consensus estimate of $7.07 by $29.19. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.07 billion. Markel had a net margin of 18.81% and a return on equity of 5.61%. As a group, sell-side analysts forecast that Markel Co. will post 39.76 earnings per share for the current year.
A number of brokerages recently commented on MKL. Royal Bank of Canada raised Markel from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $1,250.00 to $1,325.00 in a report on Thursday, December 5th. ValuEngine downgraded Markel from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $1,136.50.
In other Markel news, Chairman Alan I. Kirshner sold 400 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $1,144.69, for a total transaction of $457,876.00. Following the transaction, the chairman now owns 20,853 shares of the company’s stock, valued at approximately $23,870,220.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Steven A. Markel sold 249 shares of Markel stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $1,125.00, for a total value of $280,125.00. Following the completion of the transaction, the insider now owns 89,383 shares of the company’s stock, valued at approximately $100,555,875. The disclosure for this sale can be found here. Insiders sold a total of 1,650 shares of company stock valued at $1,871,099 in the last three months. Insiders own 2.34% of the company’s stock.
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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