230 Shares in Markel Co. (MKL) Purchased by Farley Capital L.P.
Farley Capital L.P. bought a new stake in shares of Markel Co. (NYSE:MKL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 230 shares of the insurance provider’s stock, valued at approximately $246,000. Markel makes up about 0.3% of Farley Capital L.P.’s investment portfolio, making the stock its 11th largest position.
Several other hedge funds and other institutional investors have also made changes to their positions in MKL. Vanguard Group Inc. increased its stake in shares of Markel by 2.6% during the second quarter. Vanguard Group Inc. now owns 1,129,189 shares of the insurance provider’s stock valued at $1,101,931,000 after purchasing an additional 28,104 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Markel by 3.7% during the second quarter. Principal Financial Group Inc. now owns 659,167 shares of the insurance provider’s stock valued at $643,254,000 after purchasing an additional 23,417 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Markel by 14.9% during the second quarter. Victory Capital Management Inc. now owns 152,757 shares of the insurance provider’s stock valued at $149,069,000 after purchasing an additional 19,799 shares in the last quarter. Archford Capital Strategies LLC increased its stake in shares of Markel by 34,592.5% during the second quarter. Archford Capital Strategies LLC now owns 13,877 shares of the insurance provider’s stock valued at $204,000 after purchasing an additional 13,837 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Markel by 712.3% during the second quarter. Janus Henderson Group PLC now owns 14,703 shares of the insurance provider’s stock valued at $14,347,000 after purchasing an additional 12,893 shares in the last quarter. 76.89% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lemuel E. Lewis purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of $1,080.96 per share, for a total transaction of $1,080,960.00. Following the completion of the acquisition, the director now directly owns 5,294 shares in the company, valued at approximately $5,722,602.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $1,065.64, for a total transaction of $213,128.00. Following the sale, the insider now owns 109,550 shares in the company, valued at approximately $116,740,862. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,069 shares of company stock worth $1,150,604. Corporate insiders own 2.53% of the company’s stock.
Markel Co. (MKL) traded up $9.25 during trading hours on Wednesday, hitting $1,091.48. 32,600 shares of the stock were exchanged, compared to its average volume of 5,640. Markel Co. has a 1 year low of $612.00 and a 1 year high of $1,097.01. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $15,160.00, a PE ratio of 352.83 and a beta of 1.05.
A number of equities analysts have weighed in on MKL shares. ValuEngine raised shares of Markel from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. SunTrust Banks reaffirmed a “hold” rating and set a $1,100.00 target price on shares of Markel in a research note on Friday, October 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $1,050.00 price target on shares of Markel in a report on Tuesday, October 3rd. BidaskClub upgraded shares of Markel from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Markel in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Markel currently has an average rating of “Hold” and a consensus price target of $1,066.67.
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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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