First Mercantile Trust Co. Trims Stake in Markel Co. (MKL)

First Mercantile Trust Co. lowered its holdings in shares of Markel Co. (NYSE:MKL) by 28.6% in the 1st quarter, Holdings Channel reports. The firm owned 90 shares of the insurance provider’s stock after selling 36 shares during the quarter. First Mercantile Trust Co.’s holdings in Markel were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Markel by 7.8% during the third quarter. Legal & General Group Plc now owns 74,784 shares of the insurance provider’s stock valued at $88,865,000 after buying an additional 5,399 shares during the last quarter. Oakbrook Investments LLC acquired a new position in shares of Markel during the fourth quarter valued at about $571,000. Bank of Montreal Can raised its position in shares of Markel by 86.9% during the fourth quarter. Bank of Montreal Can now owns 3,707 shares of the insurance provider’s stock valued at $3,849,000 after buying an additional 1,724 shares during the last quarter. Baskin Financial Services Inc. raised its position in shares of Markel by 1.9% during the fourth quarter. Baskin Financial Services Inc. now owns 9,231 shares of the insurance provider’s stock valued at $9,582,000 after buying an additional 174 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Markel during the fourth quarter valued at about $213,000. 76.13% of the stock is owned by hedge funds and other institutional investors.

In other Markel news, Director Lemuel E. Lewis purchased 100 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $1,035.00 per share, with a total value of $103,500.00. Following the completion of the transaction, the director now directly owns 5,085 shares of the company’s stock, valued at approximately $5,262,975. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Steven A. Markel sold 80 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $1,000.86, for a total transaction of $80,068.80. Following the completion of the transaction, the insider now directly owns 101,265 shares of the company’s stock, valued at approximately $101,352,087.90. The disclosure for this sale can be found here. In the last three months, insiders purchased 400 shares of company stock valued at $398,556 and sold 1,393 shares valued at $1,398,416. Corporate insiders own 2.34% of the company’s stock.

NYSE:MKL opened at $1,086.40 on Thursday. Markel Co. has a 12-month low of $950.16 and a 12-month high of $1,228.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $14.75 billion, a P/E ratio of 52.92 and a beta of 0.87.

A number of brokerages have recently commented on MKL. Zacks Investment Research lowered shares of Markel from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. ValuEngine lowered shares of Markel from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. TheStreet lowered shares of Markel from a “b” rating to a “c” rating in a research report on Wednesday, February 6th. Finally, SunTrust Banks increased their price target on shares of Markel to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Markel presently has an average rating of “Buy” and an average 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.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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