Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Markel Co. (NYSE:MKL) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,336 shares of the insurance provider’s stock after selling 3,266 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.45% of Markel worth $69,791,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC grew its stake in shares of Markel by 3.7% during the first quarter. DAVENPORT & Co LLC now owns 287,375 shares of the insurance provider’s stock valued at $327,498,000 after purchasing an additional 10,298 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Markel by 16.5% during the fourth quarter. Mackenzie Financial Corp now owns 168,537 shares of the insurance provider’s stock valued at $174,149,000 after purchasing an additional 23,874 shares during the last quarter. Norges Bank bought a new stake in shares of Markel during the fourth quarter valued at approximately $131,282,000. Scharf Investments LLC grew its stake in shares of Markel by 12.9% during the first quarter. Scharf Investments LLC now owns 124,125 shares of the insurance provider’s stock valued at $141,455,000 after purchasing an additional 14,176 shares during the last quarter. Finally, Alta Capital Management LLC boosted its stake in Markel by 158.0% in the first quarter. Alta Capital Management LLC now owns 97,792 shares of the insurance provider’s stock valued at $111,445,000 after acquiring an additional 59,891 shares during the last quarter. 76.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Steven A. Markel sold 437 shares of the firm’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $1,197.29, for a total value of $523,215.73. Following the completion of the transaction, the director now owns 84,813 shares of the company’s stock, valued at $101,545,756.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Markel sold 1,500 shares of Markel stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $1,203.81, for a total transaction of $1,805,715.00. Following the completion of the transaction, the director now directly owns 86,761 shares of the company’s stock, valued at approximately $104,443,759.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,000 shares of company stock valued at $4,802,524. 1.97% of the stock is owned by insiders.
Shares of NYSE:MKL opened at $1,201.98 on Friday. Markel Co. has a 12 month low of $880.59 and a 12 month high of $1,268.96. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $1,201.99. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 6.07 and a beta of 0.69.
Markel (NYSE:MKL) last issued its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $10.12 EPS for the quarter, missing analysts’ consensus estimates of $11.37 by ($1.25). The company had revenue of $2.37 billion for 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%. Equities analysts predict that Markel Co. will post 56.63 earnings per share for the current year.
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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