Teacher Retirement System of Texas Grows Stock Position in Markel Co. (NYSE:MKL)

Teacher Retirement System of Texas lifted its stake in Markel Co. (NYSE:MKL) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,870 shares of the insurance provider’s stock after buying an additional 278 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of Markel worth $8,969,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MKL. Amundi Pioneer Asset Management Inc. boosted its position in Markel by 0.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,658 shares of the insurance provider’s stock worth $9,622,000 after purchasing an additional 56 shares in the last quarter. Victory Capital Management Inc. grew its position in Markel by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 8,523 shares of the insurance provider’s stock valued at $8,807,000 after buying an additional 33 shares during the period. Trust Co. of Vermont increased its holdings in Markel by 6.9% in the fourth quarter. Trust Co. of Vermont now owns 616 shares of the insurance provider’s stock valued at $637,000 after buying an additional 40 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Markel by 7.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 592 shares of the insurance provider’s stock worth $612,000 after acquiring an additional 41 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Markel by 3.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 637 shares of the insurance provider’s stock worth $658,000 after acquiring an additional 20 shares in the last quarter. 76.08% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Markel from a “strong-buy” rating to a “sell” rating and set a $1,245.00 price target for the company. in a report on Tuesday, April 6th. Truist Financial decreased their target price on Markel from $1,350.00 to $1,150.00 in a research report on Tuesday, April 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $1,144.00.

In related news, Director Steven A. Markel sold 563 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $1,198.14, for a total value of $674,552.82. Following the completion of the transaction, the director now directly owns 85,370 shares in the company, valued at $102,285,211.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Markel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $1,203.81, for a total value of $1,805,715.00. Following the completion of the transaction, the director now owns 86,761 shares of the company’s stock, valued at $104,443,759.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,000 shares of company stock valued at $4,802,524. 1.97% of the stock is owned by insiders.

Shares of MKL opened at $1,201.98 on Friday. The stock’s 50 day moving average price is $1,201.99. Markel Co. has a one year low of $880.59 and a one year high of $1,268.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $16.54 billion, a PE ratio of 6.07 and a beta of 0.69.

Markel (NYSE:MKL) last released its earnings results on Wednesday, April 28th. The insurance provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.37 by ($1.25). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Markel had a return on equity of 5.69% and a net margin of 22.62%. Sell-side analysts predict that Markel Co. will post 56.63 EPS for the current year.

About Markel

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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