Select Equity Group L.P. Buys Shares of 38,260 Markel Co. (NYSE:MKL)

Select Equity Group L.P. bought a new stake in Markel Co. (NYSE:MKL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,260 shares of the insurance provider’s stock, valued at approximately $43,602,000. Select Equity Group L.P. owned about 0.28% of Markel as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mount Yale Investment Advisors LLC lifted its stake in shares of Markel by 133.3% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,792 shares of the insurance provider’s stock valued at $2,042,000 after buying an additional 1,024 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its stake in shares of Markel by 33.3% during the 1st quarter. Carmichael Hill & Associates Inc. now owns 40 shares of the insurance provider’s stock valued at $46,000 after buying an additional 10 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Markel by 3.7% during the 1st quarter. Teacher Retirement System of Texas now owns 7,870 shares of the insurance provider’s stock valued at $8,969,000 after buying an additional 278 shares in the last quarter. Prana Capital Management LP lifted its stake in Markel by 65.0% in the 1st quarter. Prana Capital Management LP now owns 14,008 shares of the insurance provider’s stock worth $15,964,000 after purchasing an additional 5,517 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in Markel by 374.3% in the 1st quarter. Maryland State Retirement & Pension System now owns 1,034 shares of the insurance provider’s stock worth $1,178,000 after purchasing an additional 816 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

Several analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Markel from $1,350.00 to $1,150.00 in a research note on Tuesday, April 13th. Zacks Investment Research cut shares of Markel from a “hold” rating to a “strong sell” rating and set a $1,017.00 target price on the stock. in a research note on Wednesday, June 30th.

In related news, Director Steven A. Markel sold 437 shares of the stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $1,197.29, for a total transaction of $523,215.73. Following the transaction, the director now owns 84,813 shares of the company’s stock, valued at approximately $101,545,756.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Lynne Puckett bought 82 shares of Markel stock in a transaction that occurred on Thursday, May 6th. The shares were acquired at an average cost of $1,195.35 per share, for a total transaction of $98,018.70. Following the acquisition, the director now owns 337 shares in the company, valued at approximately $402,832.95. The disclosure for this purchase can be found here. 1.97% of the stock is currently owned by company insiders.

Shares of NYSE:MKL opened at $1,231.25 on Thursday. The business has a fifty day moving average of $1,209.63. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 26.82 and a beta of 0.69. Markel Co. has a one year low of $913.04 and a one year high of $1,268.96. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.28.

Markel (NYSE:MKL) last issued its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $10.12 EPS for the quarter, missing the Zacks’ consensus estimate of $11.37 by ($1.25). Markel had a return on equity of 5.69% and a net margin of 22.62%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.45 billion. As a group, research analysts forecast that Markel Co. will post 56.47 earnings per share for the current fiscal year.

Markel Company Profile

Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the following segments: Insurance and Reinsurance. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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