Baskin Financial Services Inc. Grows Position in Markel Co. (MKL)

Baskin Financial Services Inc. lifted its position in shares of Markel Co. (NYSE:MKL) by 14.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,057 shares of the insurance provider’s stock after acquiring an additional 1,124 shares during the period. Markel accounts for about 2.0% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 25th biggest holding. Baskin Financial Services Inc.’s holdings in Markel were worth $10,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Markel by 1.0% during the first quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after purchasing an additional 6,453 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Markel by 1.1% during the second quarter. Baillie Gifford & Co. now owns 550,655 shares of the insurance provider’s stock valued at $597,103,000 after purchasing an additional 6,226 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of Markel by 115,809.3% during the first quarter. Summit Trail Advisors LLC now owns 224,864 shares of the insurance provider’s stock valued at $225,000 after purchasing an additional 224,670 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Markel by 10.4% during the second quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after purchasing an additional 18,680 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Markel by 1.5% during the second quarter. Bessemer Group Inc. now owns 184,954 shares of the insurance provider’s stock valued at $200,555,000 after buying an additional 2,707 shares during the last quarter. Institutional investors own 79.03% of the company’s stock.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Markel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Boenning Scattergood reiterated a “buy” rating on shares of Markel in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded Markel from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Markel presently has an average rating of “Buy” and an average price target of $1,252.75.

NYSE:MKL traded up $0.80 during trading hours on Thursday, reaching $1,127.02. 1,690 shares of the company traded hands, compared to its average volume of 32,180. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 312.22 and a beta of 0.96. Markel Co. has a 1 year low of $1,049.95 and a 1 year high of $1,228.32. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32.

Markel (NYSE:MKL) last announced its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.49 by $11.48. Markel had a return on equity of 2.89% and a net margin of 5.79%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.68 billion. As a group, equities research analysts predict that Markel Co. will post 39.02 EPS for the current year.

In related news, Vice Chairman Steven A. Markel sold 200 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $1,197.20, for a total transaction of $239,440.00. Following the completion of the sale, the insider now owns 103,650 shares in the company, valued at $124,089,780. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alan I. Kirshner sold 100 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $1,190.55, for a total value of $119,055.00. Following the sale, the insider now owns 23,650 shares of the company’s stock, valued at approximately $28,156,507.50. The disclosure for this sale can be found here. Insiders sold 1,200 shares of company stock valued at $1,437,755 in the last 90 days. Company insiders own 2.46% of the company’s stock.

Markel Company Profile

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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