Pictet Asset Management Ltd. Boosts Stake in Markel Co. (NYSE:MKL)

Pictet Asset Management Ltd. grew its holdings in shares of Markel Co. (NYSE:MKL) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,849 shares of the insurance provider’s stock after acquiring an additional 600 shares during the period. Pictet Asset Management Ltd.’s holdings in Markel were worth $6,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MKL. Stifel Financial Corp lifted its position in shares of Markel by 4.4% during the third quarter. Stifel Financial Corp now owns 8,450 shares of the insurance provider’s stock worth $9,992,000 after purchasing an additional 353 shares during the last quarter. Virtu Financial LLC bought a new position in Markel during the 3rd quarter worth approximately $319,000. State Street Corp grew its position in shares of Markel by 3.7% in the 3rd quarter. State Street Corp now owns 354,309 shares of the insurance provider’s stock worth $418,758,000 after acquiring an additional 12,694 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its position in shares of Markel by 30.0% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 260 shares of the insurance provider’s stock worth $307,000 after acquiring an additional 60 shares in the last quarter. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of Markel during the 3rd quarter valued at approximately $251,000. 74.76% of the stock is currently owned by institutional investors and hedge funds.

MKL opened at $1,107.25 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $1,137.00 and its 200 day moving average price is $1,123.94. Markel Co. has a fifty-two week low of $950.16 and a fifty-two week high of $1,216.47. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 53.93 and a beta of 0.73.

Separately, ValuEngine downgraded shares of Markel from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Markel presently has a consensus rating of “Hold” and a consensus target price of $1,073.67.

In related news, Vice Chairman Steven A. Markel sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $1,125.00, for a total value of $281,250.00. Following the sale, the insider now owns 89,633 shares of the company’s stock, valued at approximately $100,837,125. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Anthony F. Markel sold 78 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1,174.21, for a total value of $91,588.38. Following the transaction, the insider now owns 33,351 shares of the company’s stock, valued at approximately $39,161,077.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,030 shares of company stock valued at $6,969,495. 2.34% of the stock is currently owned by insiders.

About Markel

Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. Its Insurance segment offers general and professional liability, property, personal lines, marine and energy, specialty programs, and workers' compensation insurance products.

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Institutional Ownership by Quarter for Markel (NYSE:MKL)

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