Markel Co. (MKL) Stake Lessened by OLD Dominion Capital Management Inc.

OLD Dominion Capital Management Inc. trimmed its holdings in Markel Co. (NYSE:MKL) by 49.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470 shares of the insurance provider’s stock after selling 468 shares during the quarter. OLD Dominion Capital Management Inc.’s holdings in Markel were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MKL. Legal & General Group Plc grew its position in Markel by 7.8% in the third quarter. Legal & General Group Plc now owns 74,784 shares of the insurance provider’s stock valued at $88,865,000 after acquiring an additional 5,399 shares during the period. Marshall Wace LLP bought a new stake in Markel in the third quarter valued at $269,000. Rockland Trust Co. bought a new stake in Markel in the fourth quarter valued at $34,000. Oakbrook Investments LLC bought a new stake in Markel in the fourth quarter valued at $571,000. Finally, Bank of Montreal Can grew its position in Markel by 86.9% in the fourth quarter. Bank of Montreal Can now owns 3,707 shares of the insurance provider’s stock valued at $3,849,000 after acquiring an additional 1,724 shares during the period. 76.13% of the stock is currently owned by institutional investors.

Markel stock opened at $1,060.99 on Friday. 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 firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 51.68 and a beta of 0.87. Markel Co. has a 52 week low of $950.16 and a 52 week high of $1,228.32.

In other Markel news, Vice Chairman Steven A. Markel sold 80 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $1,000.86, for a total value of $80,068.80. Following the transaction, the insider now owns 101,265 shares of the company’s stock, valued at $101,352,087.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Anthony F. Markel sold 43 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1,060.66, for a total value of $45,608.38. The disclosure for this sale can be found here. In the last three months, insiders acquired 400 shares of company stock worth $398,556 and sold 1,393 shares worth $1,398,416. 2.34% of the stock is currently owned by insiders.

A number of equities analysts have commented on MKL shares. TheStreet raised Markel from a “c” rating to a “b-” rating in a research note on Thursday, May 9th. SunTrust Banks boosted their price objective on Markel to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. ValuEngine raised Markel from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research raised Markel from a “hold” rating to a “buy” rating and set a $1,121.00 price objective on the stock in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Markel has a consensus rating of “Buy” and a consensus price target of $1,173.67.

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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.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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