Pictet Asset Management Ltd. Increases Stock Position in Markel Co. (NYSE:MKL)

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Pictet Asset Management Ltd. lifted its holdings in shares of Markel Co. (NYSE:MKL) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,249 shares of the insurance provider’s stock after buying an additional 340 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Markel were worth $5,719,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MKL. BlackRock Inc. lifted its stake in shares of Markel by 3.8% during the 1st quarter. BlackRock Inc. now owns 938,984 shares of the insurance provider’s stock valued at $935,453,000 after buying an additional 34,349 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Markel by 48.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 56,553 shares of the insurance provider’s stock worth $56,340,000 after purchasing an additional 18,340 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Markel by 3.3% in the 2nd quarter. Baillie Gifford & Co. now owns 570,019 shares of the insurance provider’s stock worth $621,094,000 after purchasing an additional 18,170 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Markel by 128.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 28,485 shares of the insurance provider’s stock worth $31,033,000 after purchasing an additional 15,994 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Markel by 303.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 18,910 shares of the insurance provider’s stock worth $20,604,000 after purchasing an additional 14,220 shares in the last quarter. Institutional investors own 75.36% of the company’s stock.

Several research firms have issued reports on MKL. ValuEngine upgraded shares of Markel from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Zacks Investment Research cut shares of Markel from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Boenning Scattergood reiterated an “outperform” rating on shares of Markel in a research note on Monday, July 1st. Finally, Deutsche Bank began coverage on shares of Markel in a research note on Thursday, May 23rd. They issued a “hold” rating and a $1,000.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Markel presently has an average rating of “Hold” and a consensus target price of $1,130.25.

In other news, Vice Chairman Steven A. Markel sold 2,955 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,111.37, for a total value of $3,284,098.35. Following the transaction, the insider now owns 98,132 shares of the company’s stock, valued at approximately $109,060,960.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Steven A. Markel sold 900 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,100.41, for a total transaction of $990,369.00. Following the completion of the transaction, the insider now directly owns 99,855 shares in the company, valued at approximately $109,881,440.55. The disclosure for this sale can be found here. Insiders sold a total of 5,464 shares of company stock worth $6,066,377 in the last three months. Insiders own 2.34% of the company’s stock.

NYSE MKL traded up $1.42 on Tuesday, hitting $1,177.00. The stock had a trading volume of 5,204 shares, compared to its average volume of 25,374. Markel Co. has a 52-week low of $950.16 and a 52-week high of $1,225.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 57.33 and a beta of 0.77. The firm has a 50-day moving average of $1,139.41 and a 200-day moving average of $1,068.82.

Markel (NYSE:MKL) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $11.84 earnings per share (EPS) for the quarter. The business had revenue of $2.01 billion for the quarter. Markel had a net margin of 9.07% and a return on equity of 7.38%. As a group, research analysts anticipate that Markel Co. will post 37.2 earnings per share for the current fiscal year.

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. 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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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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