Sumitomo Mitsui Asset Management Company LTD Boosts Position in Markel Co. (MKL)

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Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Markel Co. (NYSE:MKL) by 1.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,134 shares of the insurance provider’s stock after buying an additional 21 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Markel were worth $1,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKL. BlackRock Inc. grew its position in Markel by 6.6% in the fourth quarter. BlackRock Inc. now owns 904,635 shares of the insurance provider’s stock valued at $939,056,000 after acquiring an additional 55,697 shares in the last quarter. DAVENPORT & Co LLC grew its position in Markel by 1.2% in the fourth quarter. DAVENPORT & Co LLC now owns 288,890 shares of the insurance provider’s stock valued at $299,882,000 after acquiring an additional 3,520 shares in the last quarter. Victory Capital Management Inc. grew its position in Markel by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 183,634 shares of the insurance provider’s stock valued at $190,622,000 after acquiring an additional 1,674 shares in the last quarter. Geode Capital Management LLC grew its position in Markel by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 138,297 shares of the insurance provider’s stock valued at $143,466,000 after acquiring an additional 11,630 shares in the last quarter. Finally, Polar Capital LLP grew its position in Markel by 0.8% in the fourth quarter. Polar Capital LLP now owns 121,773 shares of the insurance provider’s stock valued at $126,406,000 after acquiring an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

In other news, Vice Chairman Steven A. Markel sold 80 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $1,000.86, for a total transaction of $80,068.80. Following the completion of the sale, the insider now owns 101,265 shares of the company’s stock, valued at $101,352,087.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K Bruce Connell purchased 200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average cost of $968.78 per share, with a total value of $193,756.00. Following the transaction, the director now directly owns 2,141 shares of the company’s stock, valued at approximately $2,074,157.98. The disclosure for this purchase can be found here. In the last three months, insiders have bought 400 shares of company stock valued at $398,556 and have sold 1,393 shares valued at $1,398,416. 2.34% of the stock is currently owned by company insiders.

Several analysts have issued reports on the stock. SunTrust Banks increased their price objective on shares of Markel to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Markel from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. TheStreet downgraded shares of Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. Finally, Zacks Investment Research downgraded shares of Markel from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,173.67.

Shares of MKL stock traded up $0.16 during mid-day trading on Wednesday, reaching $1,074.85. 200 shares of the company were exchanged, compared to its average volume of 49,460. Markel Co. has a fifty-two week low of $950.16 and a fifty-two week high of $1,228.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $14.75 billion, a P/E ratio of 52.37 and a beta of 0.87.

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About Markel

Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. It operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. The U.S. Insurance segment offers general and professional liability, property, personal line, program, and workers' compensation insurance products, as well as other insurance product lines, such as ocean marine, surety, CPI, and coverages.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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