Carnegie Capital Asset Management LLC Increases Stake in Markel Co. (MKL)

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Carnegie Capital Asset Management LLC grew its position in Markel Co. (NYSE:MKL) by 98.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605 shares of the insurance provider’s stock after purchasing an additional 300 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Markel were worth $686,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Elgethun Capital Management grew its position in shares of Markel by 11.7% in the second quarter. Elgethun Capital Management now owns 1,111 shares of the insurance provider’s stock valued at $1,206,000 after purchasing an additional 116 shares during the last quarter. Signaturefd LLC grew its position in Markel by 636.8% during the second quarter. Signaturefd LLC now owns 140 shares of the insurance provider’s stock worth $152,000 after buying an additional 121 shares in the last quarter. Arizona State Retirement System grew its position in Markel by 12.9% during the second quarter. Arizona State Retirement System now owns 7,410 shares of the insurance provider’s stock worth $8,035,000 after buying an additional 846 shares in the last quarter. BB&T Securities LLC grew its position in Markel by 12.3% during the second quarter. BB&T Securities LLC now owns 1,760 shares of the insurance provider’s stock worth $1,907,000 after buying an additional 193 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its position in Markel by 1.5% during the second quarter. Douglass Winthrop Advisors LLC now owns 63,583 shares of the insurance provider’s stock worth $68,946,000 after buying an additional 930 shares in the last quarter. 79.03% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. ValuEngine raised Markel from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Markel from a “hold” rating to a “strong-buy” rating and set a $1,361.00 price target on the stock in a research report on Monday, October 8th. Finally, Boenning Scattergood reissued a “buy” rating on shares of Markel in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Markel has a consensus rating of “Buy” and a consensus price target of $1,252.75.

In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of the firm’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $1,138.50, for a total value of $227,700.00. Following the sale, the insider now owns 104,020 shares of the company’s stock, valued at approximately $118,426,770. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard R. Whitt III sold 500 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $1,202.80, for a total value of $601,400.00. Following the completion of the sale, the chief executive officer now directly owns 10,444 shares in the company, valued at approximately $12,562,043.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,400 shares of company stock worth $1,665,455. Company insiders own 2.46% of the company’s stock.

NYSE:MKL traded up $0.15 during trading hours on Friday, reaching $1,131.20. 54,825 shares of the company were exchanged, compared to its average volume of 31,848. The company has a market capitalization of $16.50 billion, a P/E ratio of 312.49 and a beta of 0.96. Markel Co. has a 1-year low of $1,049.95 and a 1-year high of $1,228.32. 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 (NYSE:MKL) last issued its earnings results on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.49 by $11.48. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.68 billion. Markel had a return on equity of 2.89% and a net margin of 5.79%. On average, sell-side analysts anticipate that Markel Co. will post 39.02 EPS for the current fiscal 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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