California State Teachers Retirement System decreased its stake in shares of Markel Co. (NYSE:MKL) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,726 shares of the insurance provider’s stock after selling 506 shares during the period. California State Teachers Retirement System owned 0.16% of Markel worth $23,591,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of MKL. Capital International Investors acquired a new position in Markel during the 3rd quarter worth about $214,199,000. BlackRock Inc. lifted its position in Markel by 6.6% during the 4th quarter. BlackRock Inc. now owns 904,635 shares of the insurance provider’s stock valued at $939,056,000 after purchasing an additional 55,697 shares during the period. Renaissance Technologies LLC lifted its position in Markel by 11.5% during the 3rd quarter. Renaissance Technologies LLC now owns 222,021 shares of the insurance provider’s stock valued at $263,870,000 after purchasing an additional 22,980 shares during the period. California Public Employees Retirement System lifted its position in Markel by 41.9% during the 4th quarter. California Public Employees Retirement System now owns 67,355 shares of the insurance provider’s stock valued at $69,918,000 after purchasing an additional 19,881 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Markel by 31.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 38,620 shares of the insurance provider’s stock valued at $45,900,000 after purchasing an additional 9,245 shares during the period. Institutional investors and hedge funds own 75.61% of the company’s stock.
A number of research analysts have issued reports on MKL shares. Zacks Investment Research downgraded shares of Markel from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. TheStreet downgraded shares of Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Markel presently has an average rating of “Hold” and an average price target of $1,231.50.
Markel (NYSE:MKL) last announced its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($1.04). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. Markel had a negative net margin of 2.02% and a positive return on equity of 9.15%. On average, analysts forecast that Markel Co. will post 39.04 earnings per share for the current year.
In related news, Vice Chairman Steven A. Markel sold 100 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $1,001.10, for a total value of $100,110.00. Following the sale, the insider now directly owns 102,275 shares in the company, valued at approximately $102,387,502.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alan I. Kirshner sold 200 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $1,020.82, for a total transaction of $204,164.00. The disclosure for this sale can be found here. Insiders sold a total of 1,330 shares of company stock worth $1,364,167 over the last quarter. 2.46% of the stock is currently owned by corporate insiders.
Markel Company Profile
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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