Markel Co. (MKL) Stake Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in Markel Co. (NYSE:MKL) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427 shares of the insurance provider’s stock after selling 56 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Markel were worth $1,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MKL. Principal Financial Group Inc. increased its position in Markel by 1.0% during the first quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after acquiring an additional 6,453 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Markel by 10.7% during the first quarter. The Manufacturers Life Insurance Company now owns 590 shares of the insurance provider’s stock valued at $691,000 after acquiring an additional 57 shares during the last quarter. Millennium Management LLC increased its position in Markel by 583.6% during the first quarter. Millennium Management LLC now owns 5,305 shares of the insurance provider’s stock valued at $6,208,000 after acquiring an additional 4,529 shares during the last quarter. IFM Investors Pty Ltd increased its position in Markel by 41.2% during the second quarter. IFM Investors Pty Ltd now owns 665 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 194 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Markel by 24.5% during the second quarter. State of Alaska Department of Revenue now owns 2,895 shares of the insurance provider’s stock valued at $3,137,000 after acquiring an additional 570 shares during the last quarter. 75.83% of the stock is currently owned by institutional investors and hedge funds.

NYSE MKL opened at $1,130.83 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $15.36 billion, a PE ratio of 312.38 and a beta of 1.01. Markel Co. has a 12 month low of $1,020.00 and a 12 month high of $1,228.32.

Markel (NYSE:MKL) last posted its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $28.50 EPS for the quarter, topping the Zacks’ consensus estimate of $7.05 by $21.45. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Markel had a net margin of 14.03% and a return on equity of 9.72%. As a group, equities research analysts anticipate that Markel Co. will post 29.49 earnings per share for the current year.

MKL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective on the stock in a research report on Monday, October 8th. Boenning Scattergood set a $1,300.00 price objective on shares of Markel and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, ValuEngine upgraded shares of Markel from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,265.25.

In other news, Vice Chairman Anthony F. Markel sold 149 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $1,090.00, for a total value of $162,410.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan I. Kirshner sold 100 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $1,190.55, for a total transaction of $119,055.00. Following the completion of the transaction, the insider now owns 23,650 shares in the company, valued at $28,156,507.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,149 shares of company stock worth $1,362,085. Company insiders own 2.53% of the company’s stock.

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Markel Company Profile

Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. It operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. The U.S. Insurance segment offers general and professional liability, property, personal line, program, and workers' compensation insurance products, as well as other insurance product lines, such as ocean marine, surety, CPI, and coverages.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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