Markel Co. (NYSE:MKL) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its stake in Markel Co. (NYSE:MKL – Get Rating) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 407 shares of the insurance provider’s stock after acquiring an additional 114 shares during the quarter. Bank of Nova Scotia’s holdings in Markel were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MKL. Stephens Inc. AR increased its position in Markel by 4.1% during the third quarter. Stephens Inc. AR now owns 229 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 9 shares during the last quarter. Signaturefd LLC grew its stake in shares of Markel by 12.2% in the 3rd quarter. Signaturefd LLC now owns 83 shares of the insurance provider’s stock valued at $90,000 after buying an additional 9 shares during the period. Ethic Inc. increased its holdings in shares of Markel by 2.5% during the 3rd quarter. Ethic Inc. now owns 369 shares of the insurance provider’s stock worth $400,000 after buying an additional 9 shares during the last quarter. First National Advisers LLC raised its position in shares of Markel by 4.6% during the 4th quarter. First National Advisers LLC now owns 203 shares of the insurance provider’s stock valued at $267,000 after buying an additional 9 shares during the period. Finally, Huntington National Bank lifted its holdings in Markel by 29.0% in the fourth quarter. Huntington National Bank now owns 40 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Morgan E. Housel acquired 19 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was acquired at an average cost of $1,330.70 per share, with a total value of $25,283.30. Following the completion of the purchase, the director now owns 330 shares of the company’s stock, valued at approximately $439,131. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Markel news, Director Morgan E. Housel purchased 19 shares of Markel stock in a transaction dated Thursday, May 4th. The shares were acquired at an average price of $1,330.70 per share, with a total value of $25,283.30. Following the completion of the transaction, the director now owns 330 shares of the company’s stock, valued at $439,131. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 50 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was acquired at an average price of $1,359.93 per share, with a total value of $67,996.50. Following the acquisition, the chief executive officer now directly owns 43,717 shares of the company’s stock, valued at approximately $59,452,059.81. The disclosure for this purchase can be found here. Insiders have bought 144 shares of company stock worth $193,829 over the last ninety days. Corporate insiders own 1.75% of the company’s stock.

Markel Stock Performance

NYSE:MKL opened at $1,341.27 on Wednesday. The stock has a market capitalization of $17.91 billion, a P/E ratio of 65.05 and a beta of 0.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.66 and a current ratio of 0.66. Markel Co. has a fifty-two week low of $1,064.09 and a fifty-two week high of $1,458.56. The company has a 50 day moving average price of $1,311.74 and a 200 day moving average price of $1,319.67.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MKL shares. StockNews.com raised Markel from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Truist Financial raised their price objective on Markel from $1,300.00 to $1,400.00 and gave the stock a “hold” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,516.67.

Markel Profile

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Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the Insurance and Reinsurance segments. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.