State Board of Administration of Florida Retirement System Has $23.24 Million Stake in Markel Co. (NYSE:MKL)

State Board of Administration of Florida Retirement System lifted its position in Markel Co. (NYSE:MKLGet Rating) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,751 shares of the insurance provider’s stock after purchasing an additional 161 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Markel worth $23,237,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MKL. JFS Wealth Advisors LLC raised its stake in shares of Markel by 500.0% in the first quarter. JFS Wealth Advisors LLC now owns 18 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 15 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Markel in the first quarter valued at $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Markel in the first quarter valued at $32,000. CWM LLC acquired a new position in shares of Markel in the fourth quarter valued at $37,000. Finally, Covestor Ltd acquired a new position in Markel during the fourth quarter worth $37,000. 77.07% of the stock is currently owned by institutional investors and hedge funds.

Markel Stock Performance

Shares of NYSE:MKL opened at $1,167.94 on Friday. Markel Co. has a twelve month low of $1,165.18 and a twelve month high of $1,519.24. The firm has a market cap of $15.85 billion, a PE ratio of 663.61 and a beta of 0.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.65. The business has a fifty day moving average of $1,298.24 and a 200-day moving average of $1,328.99.

Markel (NYSE:MKLGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The insurance provider reported $45.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.43 by $23.59. Markel had a return on equity of 6.03% and a net margin of 0.83%. During the same period in the previous year, the business earned $19.14 EPS. On average, equities research analysts predict that Markel Co. will post 71.93 EPS for the current fiscal year.

Insider Activity at Markel

In other news, Director A. Lynne Puckett purchased 48 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average price of $1,196.54 per share, for a total transaction of $57,433.92. Following the completion of the acquisition, the director now directly owns 873 shares in the company, valued at $1,044,579.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director A. Lynne Puckett purchased 48 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average price of $1,196.54 per share, for a total transaction of $57,433.92. Following the completion of the acquisition, the director now directly owns 873 shares in the company, valued at $1,044,579.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Sinnickson Gayner bought 50 shares of Markel stock in a transaction on Monday, May 9th. The shares were bought at an average price of $1,306.00 per share, for a total transaction of $65,300.00. Following the acquisition, the chief executive officer now owns 42,027 shares of the company’s stock, valued at approximately $54,887,262. The disclosure for this purchase can be found here. Insiders have bought a total of 228 shares of company stock worth $287,268 over the last 90 days. Insiders own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

MKL has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Markel from $1,500.00 to $1,300.00 and set a “hold” rating for the company in a research note on Friday. Royal Bank of Canada dropped their price objective on Markel from $1,650.00 to $1,600.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Markel in a research note on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Markel has an average rating of “Hold” and a consensus target price of $1,450.00.

Markel 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.

See Also

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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