Millennium Management LLC Decreases Position in Markel Co. (MKL)

Millennium Management LLC cut its holdings in Markel Co. (NYSE:MKL) by 74.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,332 shares of the insurance provider’s stock after selling 3,973 shares during the period. Millennium Management LLC’s holdings in Markel were worth $1,444,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. lifted its position in Markel by 6.7% during the second quarter. Sei Investments Co. now owns 686 shares of the insurance provider’s stock worth $744,000 after purchasing an additional 43 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in Markel by 4.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 1,065 shares of the insurance provider’s stock worth $1,155,000 after purchasing an additional 48 shares during the period. Colony Group LLC lifted its position in Markel by 8.2% during the second quarter. Colony Group LLC now owns 661 shares of the insurance provider’s stock worth $717,000 after purchasing an additional 50 shares during the period. First Capital Advisors Group LLC. lifted its position in Markel by 15.2% during the second quarter. First Capital Advisors Group LLC. now owns 386 shares of the insurance provider’s stock worth $419,000 after purchasing an additional 51 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Markel by 0.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,559 shares of the insurance provider’s stock worth $9,282,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

MKL has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price objective for the company in a research report on Monday, October 8th. ValuEngine cut shares of Markel from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Markel currently has an average rating of “Buy” and a consensus price target of $1,265.25.

In related news, insider Alan I. Kirshner sold 100 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,650 shares in the company, valued at approximately $28,156,507.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard R. Whitt III sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,202.80, for a total transaction of $601,400.00. Following the completion of the transaction, the chief executive officer now owns 10,444 shares of the company’s stock, valued at approximately $12,562,043.20. The disclosure for this sale can be found here. Insiders sold 1,000 shares of company stock valued at $1,199,675 in the last three months. Company insiders own 2.46% of the company’s stock.

MKL stock opened at $1,093.24 on Thursday. The stock has a market capitalization of $14.95 billion, a PE ratio of 302.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.58 and a quick ratio of 0.58. Markel Co. has a 12 month low of $1,020.00 and a 12 month high of $1,228.32.

Markel (NYSE:MKL) last posted its earnings results on Tuesday, October 30th. The insurance provider reported $28.50 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $21.45. Markel had a net margin of 5.79% and a return on equity of 2.89%. As a group, analysts anticipate that Markel Co. will post 36.94 EPS for the current year.

About Markel

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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