American International Group Inc. Cuts Stake in Markel Co. (MKL)
American International Group Inc. lessened its position in shares of Markel Co. (NYSE:MKL) by 36.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 505 shares of the insurance provider’s stock after selling 295 shares during the quarter. American International Group Inc.’s holdings in Markel were worth $539,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC purchased a new stake in Markel during the 2nd quarter worth about $166,000. Toronto Dominion Bank increased its position in Markel by 11.0% during the 2nd quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 17 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in Markel during the 3rd quarter worth about $202,000. Quantbot Technologies LP increased its position in Markel by 775.0% during the 2nd quarter. Quantbot Technologies LP now owns 210 shares of the insurance provider’s stock worth $204,000 after purchasing an additional 186 shares in the last quarter. Finally, Archford Capital Strategies LLC grew its holdings in Markel by 34,592.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 13,877 shares of the insurance provider’s stock valued at $204,000 after buying an additional 13,837 shares during the period. 76.79% of the stock is owned by institutional investors and hedge funds.
Shares of Markel Co. (NYSE:MKL) opened at $1,126.69 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $15,690.00, a PE ratio of 250.93 and a beta of 1.05. Markel Co. has a fifty-two week low of $887.40 and a fifty-two week high of $1,157.30.
In other Markel news, Vice Chairman Steven A. Markel sold 200 shares of Markel stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $1,065.64, for a total value of $213,128.00. Following the completion of the sale, the insider now owns 109,550 shares in the company, valued at approximately $116,740,862. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alan I. Kirshner sold 100 shares of Markel stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $1,077.70, for a total value of $107,770.00. The disclosure for this sale can be found here. Insiders sold a total of 2,507 shares of company stock valued at $2,736,884 in the last 90 days. 2.53% of the stock is owned by company insiders.
Several analysts have commented on MKL shares. Boenning Scattergood restated a “buy” rating on shares of Markel in a report on Thursday, October 26th. SunTrust Banks restated a “hold” rating and issued a $1,100.00 price target on shares of Markel in a report on Friday, October 27th. Zacks Investment Research cut Markel from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $1,050.00 price target on shares of Markel in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $1,066.67.
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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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