Markel Co. (MKL) Shares Bought by Somerset Trust Co
Somerset Trust Co increased its position in Markel Co. (NYSE:MKL) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 893 shares of the insurance provider’s stock after buying an additional 1 shares during the period. Somerset Trust Co’s holdings in Markel were worth $871,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Markel by 3.3% in the third quarter. Principal Financial Group Inc. now owns 607,699 shares of the insurance provider’s stock worth $564,412,000 after buying an additional 19,151 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its position in Markel by 17.2% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 588,321 shares of the insurance provider’s stock worth $532,136,000 after buying an additional 86,214 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Markel by 0.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 352,222 shares of the insurance provider’s stock worth $327,133,000 after buying an additional 2,161 shares in the last quarter. State Street Corp boosted its position in Markel by 2.2% in the fourth quarter. State Street Corp now owns 297,713 shares of the insurance provider’s stock worth $269,267,000 after buying an additional 6,440 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Markel by 4.9% in the third quarter. BlackRock Fund Advisors now owns 193,199 shares of the insurance provider’s stock worth $179,437,000 after buying an additional 8,968 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.
Shares of Markel Co. (NYSE:MKL) traded down 0.19% during trading on Tuesday, reaching $968.16. 26,128 shares of the company’s stock traded hands. The company’s 50-day moving average is $972.24 and its 200 day moving average is $922.20. Markel Co. has a 52-week low of $811.05 and a 52-week high of $992.00. The company has a market cap of $13.51 billion, a price-to-earnings ratio of 30.96 and a beta of 0.91.
Markel (NYSE:MKL) last released its quarterly earnings data on Wednesday, February 8th. The insurance provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $3.88. Markel had a net margin of 8.12% and a return on equity of 5.38%. The company earned $1.43 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities analysts forecast that Markel Co. will post $27.06 EPS for the current year.
A number of equities analysts recently issued reports on MKL shares. Zacks Investment Research upgraded shares of Markel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Boenning Scattergood assumed coverage on shares of Markel in a research report on Thursday, March 2nd. They issued an “outperform” rating and a $1,050.00 price target for the company.
In other news, Vice Chairman Steven A. Markel sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $971.39, for a total value of $1,942,780.00. Following the completion of the transaction, the insider now directly owns 111,478 shares in the company, valued at $108,288,614.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.65% of the stock is currently owned by company insiders.
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. It monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance. The Company, through its subsidiary Markel Ventures, Inc (Markel Ventures), owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace.
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