KBC Group NV Boosts Stake in Markel Co. (NYSE:MKL)


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KBC Group NV grew its stake in shares of Markel Co. (NYSE:MKL) by 200.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,854 shares of the insurance provider’s stock after acquiring an additional 3,905 shares during the period. KBC Group NV’s holdings in Markel were worth $6,671,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MKL. Norges Bank bought a new position in shares of Markel during the 4th quarter valued at approximately $131,282,000. Scharf Investments LLC bought a new position in shares of Markel during the 4th quarter valued at approximately $113,610,000. HighTower Advisors LLC grew its position in shares of Markel by 7,079.8% during the 4th quarter. HighTower Advisors LLC now owns 51,838 shares of the insurance provider’s stock valued at $53,328,000 after acquiring an additional 51,116 shares during the period. Sprucegrove Investment Management Ltd. grew its position in shares of Markel by 88.9% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 52,815 shares of the insurance provider’s stock valued at $54,574,000 after acquiring an additional 24,861 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Markel by 16.5% during the 4th quarter. Mackenzie Financial Corp now owns 168,537 shares of the insurance provider’s stock valued at $174,149,000 after acquiring an additional 23,874 shares during the period. 74.60% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on MKL shares. Truist increased their target price on shares of Markel from $1,050.00 to $1,150.00 in a research report on Wednesday, January 6th. Truist Financial cut their price objective on shares of Markel from $1,350.00 to $1,150.00 in a report on Tuesday, April 13th. Zacks Investment Research downgraded shares of Markel from a “strong-buy” rating to a “sell” rating and set a $1,245.00 price objective for the company. in a report on Tuesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Markel from $1,100.00 to $1,125.00 and gave the stock a “hold” rating in a report on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $1,144.00.

In related news, Director A. Lynne Puckett acquired 90 shares of the stock in a transaction dated Thursday, February 18th. The shares were purchased at an average price of $1,092.20 per share, for a total transaction of $98,298.00. Following the transaction, the director now owns 255 shares in the company, valued at approximately $278,511. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony F. Markel sold 126 shares of the firm’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $1,075.14, for a total transaction of $135,467.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,126 shares of company stock valued at $4,937,991. Insiders own 2.21% of the company’s stock.

Shares of NYSE:MKL opened at $1,190.80 on Tuesday. The firm has a fifty day moving average price of $1,167.72 and a two-hundred day moving average price of $1,062.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.68 and a quick ratio of 0.68. Markel Co. has a one year low of $761.06 and a one year high of $1,218.88. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 36.71 and a beta of 0.67.

Markel (NYSE:MKL) last announced its quarterly earnings results on Monday, February 1st. The insurance provider reported $8.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $9.12 by ($0.75). Markel had a net margin of 5.29% and a return on equity of 2.41%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Equities research analysts expect that Markel Co. will post 19.2 EPS for the current fiscal year.

Markel Profile

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, Latin America, 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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