Lincoln Capital LLC Buys 103 Shares of Markel Co. (MKL)

Lincoln Capital LLC increased its stake in shares of Markel Co. (NYSE:MKL) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,883 shares of the insurance provider’s stock after purchasing an additional 103 shares during the quarter. Markel comprises about 6.7% of Lincoln Capital LLC’s portfolio, making the stock its 3rd biggest position. Lincoln Capital LLC’s holdings in Markel were worth $13,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Markel in the fourth quarter valued at approximately $110,736,000. BlackRock Inc. raised its holdings in Markel by 6.6% in the fourth quarter. BlackRock Inc. now owns 904,635 shares of the insurance provider’s stock worth $939,056,000 after purchasing an additional 55,697 shares during the period. Millennium Management LLC raised its holdings in shares of Markel by 421.5% during the fourth quarter. Millennium Management LLC now owns 15,941 shares of the insurance provider’s stock worth $16,548,000 after acquiring an additional 20,900 shares during the period. California Public Employees Retirement System raised its holdings in shares of Markel by 41.9% during the fourth quarter. California Public Employees Retirement System now owns 67,355 shares of the insurance provider’s stock worth $69,918,000 after acquiring an additional 19,881 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Markel by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 138,297 shares of the insurance provider’s stock worth $143,466,000 after acquiring an additional 11,630 shares during the period. 76.40% of the stock is currently owned by institutional investors and hedge funds.

MKL has been the subject of several analyst reports. TheStreet downgraded shares of Markel from a “b” rating to a “c” rating in a report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Markel from a “hold” rating to a “buy” rating and set a $1,163.00 target price for the company in a report on Wednesday, January 2nd. Finally, ValuEngine downgraded shares of Markel from a “hold” rating to a “sell” rating in a report on Friday, April 5th.

Shares of MKL stock traded up $10.25 on Tuesday, hitting $1,013.00. The stock had a trading volume of 120 shares, compared to its average volume of 59,013. The company has a market cap of $14.00 billion, a P/E ratio of 49.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.54. Markel Co. has a 12-month low of $950.16 and a 12-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 the Thomson Reuters’ consensus estimate of $3.31 by ($1.04). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Markel had a negative net margin of 2.02% and a positive return on equity of 9.15%. As a group, research analysts expect that Markel Co. will post 39.04 earnings per share for the current fiscal year.

In related news, Vice Chairman Steven A. Markel sold 80 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 owns 101,265 shares in the company, valued at $101,352,087.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Steven A. Markel sold 100 shares of the stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $1,062.76, for a total transaction of $106,276.00. Following the transaction, the insider now owns 101,925 shares of the company’s stock, valued at approximately $108,321,813. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,450 shares of company stock valued at $1,468,181. 2.34% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Lincoln Capital LLC Buys 103 Shares of Markel Co. (MKL)” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.com-unik.info/2019/04/16/lincoln-capital-llc-buys-103-shares-of-markel-co-mkl.html.

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.

Recommended Story: Cost of Debt

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Co. (NYSE:MKL).

Institutional Ownership by Quarter for Markel (NYSE:MKL)

Receive News & Ratings for Markel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markel and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit