Griffin Asset Management Inc. bought a new stake in shares of Markel Co. (NYSE:MKL) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 278 shares of the insurance provider’s stock, valued at approximately $303,000.
A number of other institutional investors have also recently bought and sold shares of MKL. Advisory Alpha LLC acquired a new position in Markel during the 1st quarter valued at about $28,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Markel in the 2nd quarter worth approximately $40,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Markel in the 2nd quarter worth approximately $54,000. Glassman Wealth Services lifted its stake in shares of Markel by 190.5% in the 2nd quarter. Glassman Wealth Services now owns 61 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 40 shares during the period. Finally, NEXT Financial Group Inc lifted its stake in shares of Markel by 40.4% in the 2nd quarter. NEXT Financial Group Inc now owns 66 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 19 shares during the period. 75.36% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Steven A. Markel sold 2,955 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 98,132 shares of the company’s stock, valued at approximately $109,060,960.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Anthony F. Markel sold 41 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $1,118.24, for a total transaction of $45,847.84. Following the sale, the insider now directly owns 99,338 shares of the company’s stock, valued at $111,083,725.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,364 shares of company stock valued at $6,044,594. Company insiders own 2.34% of the company’s stock.
MKL has been the subject of a number of research analyst reports. Boenning Scattergood reaffirmed an “outperform” rating on shares of Markel in a research note on Monday, July 1st. ValuEngine raised shares of Markel from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One research 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $1,130.25.
Shares of NYSE:MKL traded down $5.29 during trading on Monday, reaching $1,180.05. The company had a trading volume of 1,020 shares, compared to its average volume of 29,585. The firm’s fifty day moving average is $1,155.74 and its 200 day moving average is $1,079.90. The firm has a market capitalization of $16.38 billion, a PE ratio of 57.54 and a beta of 0.78. Markel Co. has a twelve month low of $950.16 and a twelve month high of $1,204.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.58 and a current ratio of 0.58.
Markel (NYSE:MKL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $11.84 earnings per share for the quarter. The company had revenue of $2.01 billion during the quarter. Markel had a net margin of 9.07% and a return on equity of 7.38%. Equities analysts predict that Markel Co. will post 37.15 earnings per share for the current fiscal year.
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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