DAVENPORT & Co LLC Sells 11,289 Shares of Markel Co. (MKL)

DAVENPORT & Co LLC cut its stake in shares of Markel Co. (NYSE:MKL) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277,601 shares of the insurance provider’s stock after selling 11,289 shares during the period. Markel makes up 3.4% of DAVENPORT & Co LLC’s holdings, making the stock its 2nd biggest holding. DAVENPORT & Co LLC owned approximately 2.00% of Markel worth $276,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors grew its holdings in shares of Markel by 27.8% in the fourth quarter. Heritage Wealth Advisors now owns 23,272 shares of the insurance provider’s stock valued at $24,157,000 after purchasing an additional 5,058 shares in the last quarter. Csenge Advisory Group purchased a new position in Markel in the third quarter worth approximately $76,000. LPL Financial LLC lifted its stake in Markel by 6.4% in the fourth quarter. LPL Financial LLC now owns 1,256 shares of the insurance provider’s stock worth $1,304,000 after acquiring an additional 76 shares during the last quarter. Jefferies Group LLC purchased a new position in Markel in the third quarter worth approximately $389,000. Finally, Two Sigma Securities LLC purchased a new position in Markel in the fourth quarter worth approximately $305,000. Institutional investors and hedge funds own 76.49% of the company’s stock.

Shares of NYSE:MKL opened at $1,043.85 on Friday. The company has a market cap of $14.72 billion, a PE ratio of 50.85 and a beta of 0.87. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.31. Markel Co. has a twelve month low of $950.16 and a twelve month high of $1,228.32.

Markel (NYSE:MKL) last announced its earnings results on Tuesday, February 5th. The insurance provider reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($1.04). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. Markel had a net margin of 6.73% and a return on equity of 8.76%. On average, equities research analysts forecast that Markel Co. will post 36.99 EPS for the current year.

In other Markel news, Vice Chairman Anthony F. Markel sold 43 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1,060.66, for a total value of $45,608.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director K Bruce Connell acquired 200 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average cost of $968.78 per share, for a total transaction of $193,756.00. Following the completion of the purchase, the director now directly owns 2,141 shares in the company, valued at approximately $2,074,157.98. The disclosure for this purchase can be found here. Insiders sold a total of 1,493 shares of company stock worth $1,499,935 over the last ninety days. Corporate insiders own 2.34% of the company’s stock.

MKL has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,121.00 price target for the company in a research note on Monday, April 15th. TheStreet downgraded shares of Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. SunTrust Banks boosted their price objective on shares of Markel to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded shares of Markel from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,173.67.

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Markel 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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