Wedge Capital Management L L P NC Increases Stock Holdings in Markel Co. (NYSE:MKL)

Wedge Capital Management L L P NC boosted its position in shares of Markel Co. (NYSE:MKL) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,917 shares of the insurance provider’s stock after acquiring an additional 1,139 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Markel worth $14,766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of Markel in the 3rd quarter valued at about $30,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Markel in the 3rd quarter valued at about $31,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Markel by 52.6% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 29 shares of the insurance provider’s stock valued at $34,000 after buying an additional 10 shares during the period. North Star Investment Management Corp. purchased a new position in shares of Markel in the 3rd quarter valued at about $40,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Markel by 75.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 35 shares of the insurance provider’s stock valued at $41,000 after buying an additional 15 shares during the period. Institutional investors own 75.24% of the company’s stock.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada upgraded Markel from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $1,250.00 to $1,325.00 in a research note on Thursday, December 5th. ValuEngine cut Markel from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $1,136.50.

In other Markel news, Chairman Alan I. Kirshner sold 400 shares of Markel stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $1,144.69, for a total transaction of $457,876.00. Following the transaction, the chairman now owns 20,853 shares of the company’s stock, valued at $23,870,220.57. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Steven A. Markel sold 250 shares of Markel stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $1,125.00, for a total value of $281,250.00. Following the transaction, the insider now directly owns 89,633 shares in the company, valued at approximately $100,837,125. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,230 shares of company stock worth $4,846,910. 2.34% of the stock is currently owned by corporate insiders.

MKL opened at $1,182.54 on Friday. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 57.60 and a beta of 0.72. Markel Co. has a 52 week low of $950.16 and a 52 week high of $1,216.47. The business’s 50 day moving average is $1,141.93 and its two-hundred day moving average is $1,139.40. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Markel (NYSE:MKL) last released its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $13.95 EPS for the quarter, topping the consensus estimate of $7.55 by $6.40. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Markel had a return on equity of 5.18% and a net margin of 6.75%. Equities analysts expect that Markel Co. will post 40.25 EPS for the current fiscal year.

Markel Profile

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.

See Also: Buy Rating

Institutional Ownership by Quarter for Markel (NYSE:MKL)

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