Contravisory Investment Management Inc. decreased its stake in Markel Co. (NYSE:MKL) by 9.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,875 shares of the insurance provider’s stock after selling 579 shares during the period. Markel makes up approximately 2.0% of Contravisory Investment Management Inc.’s holdings, making the stock its 19th largest position. Contravisory Investment Management Inc.’s holdings in Markel were worth $5,733,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MKL. Toronto Dominion Bank boosted its stake in shares of Markel by 55.8% in the third quarter. Toronto Dominion Bank now owns 120 shares of the insurance provider’s stock valued at $111,000 after buying an additional 43 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Markel during the fourth quarter valued at about $117,000. West Oak Capital LLC boosted its stake in shares of Markel by 13.0% in the first quarter. West Oak Capital LLC now owns 130 shares of the insurance provider’s stock valued at $127,000 after buying an additional 15 shares in the last quarter. LBA Wealth Management LLC boosted its stake in shares of Markel by 28.6% in the fourth quarter. LBA Wealth Management LLC now owns 180 shares of the insurance provider’s stock valued at $163,000 after buying an additional 40 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Markel during the fourth quarter valued at about $163,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Markel Co. (NYSE:MKL) traded down 0.22% during mid-day trading on Friday, hitting $965.18. 4,597 shares of the stock traded hands. The company has a market cap of $13.47 billion, a P/E ratio of 30.87 and a beta of 0.91. Markel Co. has a one year low of $811.05 and a one year high of $992.00. The stock has a 50 day moving average price of $971.19 and a 200-day moving average price of $923.13.
Markel (NYSE:MKL) last released its earnings results on Wednesday, February 8th. The insurance provider reported $9.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.23 by $3.88. The company earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Markel had a return on equity of 5.38% and a net margin of 8.12%. On average, analysts forecast that Markel Co. will post $27.80 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on MKL. Boenning Scattergood began coverage on shares of Markel in a research report on Thursday, March 2nd. They set an “outperform” rating and a $1,050.00 price target on the stock. Zacks Investment Research raised shares of Markel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 17th.
In other news, Vice Chairman Steven A. Markel sold 2,000 shares of Markel stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $971.39, for a total value of $1,942,780.00. Following the completion of the sale, the insider now directly owns 111,478 shares of the company’s stock, valued at approximately $108,288,614.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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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