State Board of Administration of Florida Retirement System Has $23.24 Million Stock Position in Markel Co. (NYSE:MKL)

State Board of Administration of Florida Retirement System lifted its holdings in shares of Markel Co. (NYSE:MKLGet Rating) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,751 shares of the insurance provider’s stock after acquiring an additional 161 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Markel were worth $23,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in shares of Markel by 500.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 18 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 15 shares during the period. Riverview Trust Co bought a new position in shares of Markel during the 1st quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Markel during the 1st quarter worth approximately $32,000. CWM LLC bought a new position in shares of Markel during the 4th quarter worth approximately $37,000. Finally, Covestor Ltd bought a new position in shares of Markel during the 4th quarter worth approximately $37,000. 77.07% of the stock is currently owned by institutional investors.

Markel Stock Performance

MKL opened at $1,167.94 on Friday. The business has a fifty day simple moving average of $1,298.24 and a 200 day simple moving average of $1,328.99. The company has a market capitalization of $15.85 billion, a PE ratio of 663.61 and a beta of 0.70. Markel Co. has a 1 year low of $1,165.18 and a 1 year high of $1,519.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.65 and a quick ratio of 0.66.

Markel (NYSE:MKLGet Rating) last released its earnings results on Tuesday, August 2nd. The insurance provider reported $45.02 earnings per share for the quarter, beating analysts’ consensus estimates of $21.43 by $23.59. Markel had a return on equity of 6.03% and a net margin of 0.83%. During the same quarter in the prior year, the business posted $19.14 earnings per share. Research analysts expect that Markel Co. will post 71.93 EPS for the current year.

Insider Activity

In related news, CEO Thomas Sinnickson Gayner bought 50 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was purchased at an average cost of $1,202.46 per share, for a total transaction of $60,123.00. Following the transaction, the chief executive officer now owns 42,077 shares in the company, valued at approximately $50,595,909.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Markel news, CEO Thomas Sinnickson Gayner purchased 50 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average price of $1,202.46 per share, with a total value of $60,123.00. Following the acquisition, the chief executive officer now owns 42,077 shares of the company’s stock, valued at $50,595,909.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony F. Markel purchased 80 shares of the stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average cost of $1,305.14 per share, with a total value of $104,411.20. Following the acquisition, the director now directly owns 2,650 shares in the company, valued at approximately $3,458,621. The disclosure for this purchase can be found here. In the last three months, insiders purchased 228 shares of company stock worth $287,268. 1.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MKL shares. William Blair reiterated an “outperform” rating on shares of Markel in a research note on Wednesday, April 27th. Royal Bank of Canada reduced their price target on Markel from $1,650.00 to $1,600.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Truist Financial reduced their price target on Markel from $1,500.00 to $1,300.00 and set a “hold” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,450.00.

Markel Company Profile

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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. Its Insurance segment offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.

See Also

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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