GAM Holding AG Has $1,470,000 Position in Markel Corporation (MKL)
GAM Holding AG held its stake in shares of Markel Corporation (NYSE:MKL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,506 shares of the insurance provider’s stock at the end of the second quarter. GAM Holding AG’s holdings in Markel Corporation were worth $1,470,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Markel Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,101,085 shares of the insurance provider’s stock worth $1,074,505,000 after buying an additional 45,773 shares during the period. BlackRock Inc. boosted its stake in shares of Markel Corporation by 4,055.3% in the first quarter. BlackRock Inc. now owns 832,548 shares of the insurance provider’s stock worth $812,449,000 after buying an additional 812,512 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Markel Corporation by 0.3% in the first quarter. Principal Financial Group Inc. now owns 635,750 shares of the insurance provider’s stock worth $620,403,000 after buying an additional 2,097 shares during the period. Wellington Management Group LLP boosted its stake in shares of Markel Corporation by 7.7% in the first quarter. Wellington Management Group LLP now owns 418,485 shares of the insurance provider’s stock worth $408,382,000 after buying an additional 30,073 shares during the period. Finally, State Street Corp boosted its stake in shares of Markel Corporation by 2.0% in the first quarter. State Street Corp now owns 303,677 shares of the insurance provider’s stock worth $296,361,000 after buying an additional 5,964 shares during the period. Hedge funds and other institutional investors own 76.63% of the company’s stock.
Shares of Markel Corporation (NYSE:MKL) opened at 1042.14 on Thursday. Markel Corporation has a 1-year low of $811.05 and a 1-year high of $1,086.68. The stock has a market capitalization of $14.50 billion, a PE ratio of 36.04 and a beta of 1.03. The firm has a 50-day moving average price of $1,031.23 and a 200-day moving average price of $985.43.
Markel Corporation (NYSE:MKL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, beating the Zacks’ consensus estimate of $6.27 by $3.67. Markel Corporation had a return on equity of 4.81% and a net margin of 7.58%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. On average, equities research analysts forecast that Markel Corporation will post $28.59 earnings per share for the current year.
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MKL has been the subject of a number of research analyst reports. ValuEngine upgraded Markel Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Boenning Scattergood set a $1,050.00 price target on Markel Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub upgraded Markel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $1,050.00.
In other news, CEO Richard R. Whitt III sold 100 shares of Markel Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $1,045.10, for a total transaction of $104,510.00. Following the sale, the chief executive officer now owns 12,039 shares of the company’s stock, valued at $12,581,958.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bradley James Kiscaden sold 350 shares of Markel Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $1,074.56, for a total value of $376,096.00. Following the sale, the executive vice president now directly owns 6,817 shares in the company, valued at approximately $7,325,275.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,727 shares of company stock valued at $6,118,092. 2.53% of the stock is currently owned by insiders.
About Markel Corporation
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. It monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance. The Company, through its subsidiary Markel Ventures, Inc (Markel Ventures), owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace.
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