Standard Life Aberdeen plc reduced its stake in Markel Co. (NYSE:MKL) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,825 shares of the insurance provider’s stock after selling 34 shares during the period. Standard Life Aberdeen plc’s holdings in Markel were worth $2,855,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in MKL. First Trust Advisors LP bought a new stake in Markel in the third quarter valued at approximately $2,844,000. Private Advisor Group LLC lifted its position in Markel by 16.4% in the third quarter. Private Advisor Group LLC now owns 1,145 shares of the insurance provider’s stock valued at $1,361,000 after purchasing an additional 161 shares during the last quarter. Wells Fargo & Company MN lifted its position in Markel by 1.7% in the third quarter. Wells Fargo & Company MN now owns 55,074 shares of the insurance provider’s stock valued at $65,456,000 after purchasing an additional 932 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Markel by 17.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,197 shares of the insurance provider’s stock valued at $1,423,000 after purchasing an additional 181 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Markel by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 3,569 shares of the insurance provider’s stock valued at $4,241,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 75.61% of the company’s stock.
Shares of MKL traded up $14.00 during mid-day trading on Friday, hitting $1,018.73. 14,071 shares of the company’s stock traded hands, compared to its average volume of 43,564. 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 Co. has a 1 year low of $950.16 and a 1 year high of $1,228.32. The stock has a market capitalization of $14.02 billion, a PE ratio of 49.62 and a beta of 0.86.
In other news, insider Alan I. Kirshner sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $1,020.82, for a total transaction of $204,164.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Steven A. Markel sold 100 shares of the business’s stock in a transaction that occurred on 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 $108,321,813. The disclosure for this sale can be found here. Insiders have sold 1,330 shares of company stock worth $1,364,167 over the last three months. Insiders own 2.46% of the company’s stock.
MKL has been the subject of several recent research reports. TheStreet downgraded Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. Zacks Investment Research upgraded Markel from a “hold” rating to a “buy” rating and set a $1,163.00 price objective for the company in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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.
Further Reading: Leveraged Buyout (LBO)
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