Strs Ohio cut its stake in shares of Markel Corporation (NYSE:MKL) by 6.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,980 shares of the insurance provider’s stock after selling 134 shares during the period. Strs Ohio’s holdings in Markel Corporation were worth $1,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Clarkston Capital Partners LLC increased its stake in Markel Corporation by 7.7% in the second quarter. Clarkston Capital Partners LLC now owns 45,046 shares of the insurance provider’s stock valued at $43,959,000 after buying an additional 3,211 shares in the last quarter. Parametrica Management Ltd increased its stake in Markel Corporation by 31.6% in the second quarter. Parametrica Management Ltd now owns 416 shares of the insurance provider’s stock valued at $406,000 after buying an additional 100 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Markel Corporation by 7.4% in the second quarter. Russell Investments Group Ltd. now owns 91,908 shares of the insurance provider’s stock valued at $89,678,000 after buying an additional 6,314 shares in the last quarter. Gilbert & Cook Inc. purchased a new stake in Markel Corporation during the second quarter valued at about $301,000. Finally, Hermes Investment Management Ltd. purchased a new stake in Markel Corporation during the second quarter valued at about $1,289,000. 76.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Markel Corporation (MKL) opened at 1050.89 on Friday. The firm has a market cap of $14.62 billion, a P/E ratio of 36.34 and a beta of 1.03. Markel Corporation has a 1-year low of $811.05 and a 1-year high of $1,086.68. The firm has a 50 day moving average price of $1,007.67 and a 200 day moving average price of $975.29.

Markel Corporation (NYSE:MKL) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $9.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.27 by $3.67. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Markel Corporation had a net margin of 7.58% and a return on equity of 4.81%. Analysts anticipate that Markel Corporation will post $28.59 EPS for the current year.

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Several research firms have issued reports on MKL. BidaskClub raised Markel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. 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. Finally, Zacks Investment Research raised Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $1,050.00.

In other news, Vice Chairman Steven A. Markel sold 3,875 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $1,074.48, for a total transaction of $4,163,610.00. Following the transaction, the insider now owns 109,650 shares of the company’s stock, valued at approximately $117,816,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard R. Whitt III sold 100 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $1,085.31, for a total transaction of $108,531.00. Following the transaction, the chief executive officer now directly owns 12,239 shares in the company, valued at approximately $13,283,109.09. The disclosure for this sale can be found here. Insiders have sold a total of 4,525 shares of company stock worth $4,859,750 in the last three months. Insiders own 2.53% of the company’s stock.

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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Institutional Ownership by Quarter for Markel Corporation (NYSE:MKL)

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