Parisi Gray Wealth Management increased its holdings in shares of Markel Co. (NYSE:MKL) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 894 shares of the insurance provider’s stock after acquiring an additional 25 shares during the quarter. Parisi Gray Wealth Management’s holdings in Markel were worth $1,022,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Acima Private Wealth LLC lifted its stake in Markel by 27.1% during the fourth quarter. Acima Private Wealth LLC now owns 469 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 100 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Markel by 2.0% in the fourth quarter. DAVENPORT & Co LLC now owns 286,794 shares of the insurance provider’s stock valued at $327,854,000 after buying an additional 5,733 shares during the last quarter. Steginsky Capital LLC lifted its stake in Markel by 1.6% in the fourth quarter. Steginsky Capital LLC now owns 19,360 shares of the insurance provider’s stock valued at $22,132,000 after buying an additional 305 shares during the last quarter. Lincoln Capital LLC lifted its stake in Markel by 7.9% in the fourth quarter. Lincoln Capital LLC now owns 15,191 shares of the insurance provider’s stock valued at $17,366,000 after buying an additional 1,111 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Markel by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,386 shares of the insurance provider’s stock valued at $3,871,000 after buying an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 75.23% of the company’s stock.
In other news, Vice Chairman Anthony F. Markel sold 78 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $1,174.21, for a total transaction of $91,588.38. Following the completion of the sale, the insider now owns 33,351 shares in the company, valued at $39,161,077.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven A. Markel sold 310 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $1,125.08, for a total value of $348,774.80. Following the sale, the insider now owns 91,387 shares of the company’s stock, valued at approximately $102,817,685.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,790 shares of company stock valued at $4,345,862. 2.34% of the stock is owned by company insiders.
Markel (NYSE:MKL) last issued its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $13.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $7.55 by $6.40. Markel had a return on equity of 5.18% and a net margin of 6.75%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. On average, sell-side analysts predict that Markel Co. will post 40.25 earnings per share for the current year.
MKL has been the subject of a number of research reports. ValuEngine cut Markel from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Markel from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $1,250.00 to $1,325.00 in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Markel currently has an average rating of “Hold” and a consensus price target of $1,136.50.
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. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.
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