Assenagon Asset Management S.A. Raises Stock Position in Markel Co. (NYSE:MKL)

Assenagon Asset Management S.A. lifted its stake in shares of Markel Co. (NYSE:MKLGet Rating) by 69.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,004 shares of the insurance provider’s stock after acquiring an additional 3,270 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Markel worth $8,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Achmea Investment Management B.V. increased its position in shares of Markel by 1,085.7% during the third quarter. Achmea Investment Management B.V. now owns 332 shares of the insurance provider’s stock worth $360,000 after acquiring an additional 304 shares during the period. Strs Ohio boosted its stake in shares of Markel by 17.4% during the third quarter. Strs Ohio now owns 33,572 shares of the insurance provider’s stock valued at $36,399,000 after purchasing an additional 4,974 shares in the last quarter. Canal Insurance CO boosted its stake in shares of Markel by 100.0% during the third quarter. Canal Insurance CO now owns 2,000 shares of the insurance provider’s stock valued at $2,168,000 after purchasing an additional 1,000 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of Markel during the third quarter valued at approximately $205,000. Finally, Balentine LLC bought a new position in shares of Markel during the third quarter valued at approximately $364,000. 75.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Markel

In related news, CEO Thomas Sinnickson Gayner acquired 50 shares of the stock in a transaction dated Tuesday, November 8th. The stock was acquired at an average cost of $1,230.60 per share, for a total transaction of $61,530.00. Following the completion of the purchase, the chief executive officer now owns 42,127 shares of the company’s stock, valued at approximately $51,841,486.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.74% of the company’s stock.

Markel Price Performance

Shares of MKL opened at $1,383.99 on Monday. The company has a market cap of $18.61 billion, a price-to-earnings ratio of -140.79 and a beta of 0.75. Markel Co. has a twelve month low of $1,064.09 and a twelve month high of $1,519.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $1,284.55 and a two-hundred day moving average of $1,236.51.

Markel (NYSE:MKLGet Rating) last announced its earnings results on Tuesday, November 1st. The insurance provider reported $13.17 earnings per share for the quarter, missing the consensus estimate of $17.66 by ($4.49). Markel had a negative net margin of 0.29% and a positive return on equity of 6.44%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.21 billion. As a group, analysts predict that Markel Co. will post 65.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MKL. TheStreet upgraded shares of Markel from a “c+” rating to a “b-” rating in a research note on Friday, December 2nd. Janney Montgomery Scott started coverage on shares of Markel in a research note on Thursday, December 22nd. They set a “buy” rating and a $1,550.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Markel in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Markel presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,483.33.

Markel Company Profile

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Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. Its Insurance segment offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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