Markel Co. (NYSE:MKL) Holdings Cut by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. lowered its holdings in Markel Co. (NYSE:MKL) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,985 shares of the insurance provider’s stock after selling 1,830 shares during the period. Markel comprises about 1.4% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Sprucegrove Investment Management Ltd. owned about 0.37% of Markel worth $58,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MKL. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Markel by 0.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,658 shares of the insurance provider’s stock valued at $9,622,000 after buying an additional 56 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Markel by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 8,523 shares of the insurance provider’s stock valued at $8,807,000 after buying an additional 33 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Markel by 6.9% during the fourth quarter. Trust Co. of Vermont now owns 616 shares of the insurance provider’s stock valued at $637,000 after buying an additional 40 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Markel by 7.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 592 shares of the insurance provider’s stock valued at $612,000 after buying an additional 41 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Markel by 3.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 637 shares of the insurance provider’s stock valued at $658,000 after buying an additional 20 shares during the last quarter. 76.08% of the stock is currently owned by hedge funds and other institutional investors.

In other Markel news, Director Steven A. Markel sold 1,500 shares of Markel stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $1,199.36, for a total transaction of $1,799,040.00. Following the transaction, the director now directly owns 88,352 shares in the company, valued at approximately $105,965,854.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A. Lynne Puckett acquired 82 shares of the stock in a transaction on Thursday, May 6th. The shares were purchased at an average price of $1,195.35 per share, for a total transaction of $98,018.70. Following the completion of the transaction, the director now owns 337 shares in the company, valued at approximately $402,832.95. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 4,000 shares of company stock worth $4,802,524. 1.97% of the stock is currently owned by company insiders.

Markel stock traded up $5.75 during mid-day trading on Friday, hitting $1,207.73. The company’s stock had a trading volume of 60 shares, compared to its average volume of 56,044. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $16.62 billion, a PE ratio of 6.07 and a beta of 0.69. Markel Co. has a twelve month low of $880.59 and a twelve month high of $1,268.96. The firm’s fifty day simple moving average is $1,201.99.

Markel (NYSE:MKL) last posted its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $10.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $11.37 by ($1.25). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.45 billion. Markel had a return on equity of 5.69% and a net margin of 22.62%. As a group, analysts anticipate that Markel Co. will post 56.63 earnings per share for the current year.

A number of research analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Markel from $1,350.00 to $1,150.00 in a research note on Tuesday, April 13th. Zacks Investment Research lowered shares of Markel from a “strong-buy” rating to a “sell” rating and set a $1,245.00 price objective on the stock. in a research note on Tuesday, April 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Markel has a consensus rating of “Hold” and an average price target of $1,144.00.

Markel Profile

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, Latin America, 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.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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