Davis Selected Advisers Purchases 42,142 Shares of Markel Co. (NYSE:MKL)

Davis Selected Advisers raised its position in shares of Markel Co. (NYSE:MKL – Get Rating) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,362 shares of the insurance provider’s stock after purchasing an additional 42,142 shares during the period. Markel comprises 2.2% of Davis Selected Advisers’ portfolio, making the stock its 17th biggest position. Davis Selected Advisers owned 1.86% of Markel worth $329,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Markel by 59.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 84,266 shares of the insurance provider’s stock worth $91,362,000 after buying an additional 31,307 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Markel by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 84,448 shares of the insurance provider’s stock valued at $111,259,000 after acquiring an additional 23,302 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Markel during the fourth quarter valued at approximately $24,325,000. Lord Abbett & CO. LLC acquired a new stake in shares of Markel in the fourth quarter valued at approximately $23,715,000. Finally, Prudential Financial Inc. increased its stake in Markel by 1,757.8% during the first quarter. Prudential Financial Inc. now owns 13,822 shares of the insurance provider’s stock worth $20,390,000 after acquiring an additional 13,078 shares during the last quarter. 75.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MKL shares. StockNews.com raised Markel from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Truist Financial raised their target price on Markel from $1,300.00 to $1,400.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,516.67.

Markel Stock Up 1.4 %

NYSE:MKL traded up $17.91 during midday trading on Friday, reaching $1,331.86. The company had a trading volume of 21,618 shares, compared to its average volume of 36,581. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 63.72 and a beta of 0.78. The stock’s fifty day simple moving average is $1,315.49 and its 200-day simple moving average is $1,320.57. Markel Co. has a 12-month low of $1,064.09 and a 12-month high of $1,458.56. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.30.

Insider Activity at Markel

In other news, CEO Thomas Sinnickson Gayner bought 50 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were acquired at an average price of $1,359.93 per share, for a total transaction of $67,996.50. Following the completion of the transaction, the chief executive officer now owns 43,717 shares of the company’s stock, valued at $59,452,059.81. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Markel news, Director Morgan E. Housel purchased 19 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was bought at an average cost of $1,330.70 per share, for a total transaction of $25,283.30. Following the acquisition, the director now owns 330 shares of the company’s stock, valued at approximately $439,131. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 50 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were purchased at an average price of $1,359.93 per share, with a total value of $67,996.50. Following the completion of the acquisition, the chief executive officer now owns 43,717 shares in the company, valued at $59,452,059.81. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 194 shares of company stock worth $260,642. Company insiders own 1.75% of the company’s stock.

Markel Company Profile

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Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the Insurance and Reinsurance segments. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.