Select Equity Group L.P. grew its stake in Markel Co. (NYSE:MKL) by 128.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 38,620 shares of the insurance provider’s stock after purchasing an additional 21,737 shares during the period. Select Equity Group L.P.’s holdings in Markel were worth $45,645,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Markel in the 3rd quarter valued at approximately $30,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Markel in the third quarter worth approximately $31,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Markel by 52.6% in the third quarter. Wealthcare Advisory Partners LLC now owns 29 shares of the insurance provider’s stock worth $34,000 after buying an additional 10 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Markel in the second quarter worth approximately $40,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of Markel in the third quarter worth approximately $40,000. 74.76% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE MKL traded down $5.22 during midday trading on Friday, hitting $1,138.21. The company’s stock had a trading volume of 9,477 shares, compared to its average volume of 37,836. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $1,138.85 and its two-hundred day moving average is $1,121.82. Markel Co. has a 12-month low of $950.16 and a 12-month high of $1,216.47. The firm has a market cap of $15.68 billion, a P/E ratio of 55.44 and a beta of 0.75.
Separately, ValuEngine downgraded Markel from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $1,073.67.
In other Markel news, Vice Chairman Anthony F. Markel sold 78 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $1,174.21, for a total transaction of $91,588.38. Following the sale, the insider now owns 33,351 shares of the company’s stock, valued at approximately $39,161,077.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alan I. Kirshner sold 200 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $1,151.92, for a total value of $230,384.00. Following the sale, the chairman now directly owns 21,585 shares in the company, valued at approximately $24,864,193.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,780 shares of company stock worth $6,686,423. Company insiders own 2.34% of the company’s stock.
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. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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