Markel Co. (MKL) Position Boosted by Pittenger & Anderson Inc.

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Pittenger & Anderson Inc. boosted its position in Markel Co. (NYSE:MKL) by 1,118.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 804 shares of the insurance provider’s stock after buying an additional 738 shares during the period. Pittenger & Anderson Inc.’s holdings in Markel were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Markel by 1.0% in the first quarter. Principal Financial Group Inc. now owns 671,504 shares of the insurance provider’s stock valued at $785,828,000 after buying an additional 6,453 shares during the period. Baillie Gifford & Co. lifted its holdings in Markel by 1.1% in the second quarter. Baillie Gifford & Co. now owns 550,655 shares of the insurance provider’s stock valued at $597,103,000 after buying an additional 6,226 shares during the period. Summit Trail Advisors LLC lifted its holdings in Markel by 115,809.3% in the first quarter. Summit Trail Advisors LLC now owns 224,864 shares of the insurance provider’s stock valued at $225,000 after buying an additional 224,670 shares during the period. Renaissance Technologies LLC lifted its holdings in Markel by 10.4% in the second quarter. Renaissance Technologies LLC now owns 199,041 shares of the insurance provider’s stock valued at $215,830,000 after buying an additional 18,680 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Markel by 1.5% in the second quarter. Bessemer Group Inc. now owns 184,954 shares of the insurance provider’s stock valued at $200,555,000 after buying an additional 2,707 shares during the period. Institutional investors and hedge funds own 79.03% of the company’s stock.

Shares of NYSE MKL opened at $1,131.20 on Friday. Markel Co. has a 1-year low of $1,049.95 and a 1-year high of $1,228.32. The stock has a market cap of $16.50 billion, a PE ratio of 312.49 and a beta of 0.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32.

Markel (NYSE:MKL) last announced its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $19.97 earnings per share for the quarter, beating the consensus estimate of $8.49 by $11.48. Markel had a net margin of 5.79% and a return on equity of 2.89%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.68 billion. Equities analysts anticipate that Markel Co. will post 39.02 EPS for the current year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Markel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Boenning Scattergood reiterated a “buy” rating on shares of Markel in a report on Wednesday, August 1st. Finally, ValuEngine upgraded shares of Markel from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. 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. The stock presently has an average rating of “Buy” and an average target price of $1,252.75.

In other news, CEO Richard R. Whitt III sold 500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 10,444 shares of the company’s stock, valued at $12,562,043.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $1,190.55, for a total transaction of $119,055.00. Following the sale, the insider now directly owns 23,650 shares of the company’s stock, valued at $28,156,507.50. The disclosure for this sale can be found here. Insiders have sold 1,400 shares of company stock worth $1,665,455 in the last quarter. Company insiders own 2.46% of the company’s stock.

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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