Broad Run Investment Management LLC lessened its holdings in shares of Markel Co. (NYSE:MKL) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,513 shares of the insurance provider’s stock after selling 1,399 shares during the quarter. Markel makes up 9.4% of Broad Run Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Broad Run Investment Management LLC owned 1.84% of Markel worth $291,063,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Markel by 10.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 549 shares of the insurance provider’s stock valued at $535,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services grew its stake in shares of Markel by 156.1% in the 4th quarter. First Personal Financial Services now owns 105 shares of the insurance provider’s stock valued at $120,000 after buying an additional 64 shares in the last quarter. Global X MANAGEMENT CO LLC grew its stake in shares of Markel by 18.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 512 shares of the insurance provider’s stock valued at $547,000 after buying an additional 78 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Markel by 6.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,280 shares of the insurance provider’s stock valued at $1,373,000 after buying an additional 80 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Markel by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,425 shares of the insurance provider’s stock valued at $2,590,000 after buying an additional 86 shares in the last quarter. 78.13% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on MKL shares. Zacks Investment Research raised Markel from a “hold” rating to a “buy” rating and set a $1,253.00 price target for the company in a research note on Friday, January 5th. Royal Bank of Canada reissued a “hold” rating and issued a $1,200.00 price target on shares of Markel in a research note on Thursday, February 8th. ValuEngine cut Markel from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks boosted their price target on Markel to $1,200.00 and gave the company a “hold” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $1,172.00.
Markel (NYSE:MKL) last announced its earnings results on Tuesday, February 6th. The insurance provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.91). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.58 billion. Markel had a return on equity of 0.39% and a net margin of 6.52%. equities analysts forecast that Markel Co. will post 33.19 EPS for the current fiscal year.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $1,132.73, for a total transaction of $226,546.00. Following the completion of the sale, the insider now owns 107,210 shares of the company’s stock, valued at $121,439,983.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Schewel bought 225 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $1,114.90 per share, with a total value of $250,852.50. Following the transaction, the director now directly owns 5,990 shares of the company’s stock, valued at $6,678,251. The disclosure for this purchase can be found here. Insiders have sold 1,800 shares of company stock valued at $1,999,650 in the last ninety days. Company insiders own 2.53% of the company’s stock.
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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