Engineers Gate Manager LP Acquires Shares of 345 Markel Co. (NYSE:MKL)

Engineers Gate Manager LP bought a new position in Markel Co. (NYSE:MKL – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 345 shares of the insurance provider’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MKL. Ethic Inc. grew its stake in Markel by 2.5% in the 3rd quarter. Ethic Inc. now owns 369 shares of the insurance provider’s stock valued at $400,000 after purchasing an additional 9 shares during the period. Federated Hermes Inc. increased its holdings in Markel by 3.4% during the third quarter. Federated Hermes Inc. now owns 11,329 shares of the insurance provider’s stock worth $12,283,000 after buying an additional 368 shares during the last quarter. Bank of New York Mellon Corp raised its position in Markel by 9.8% in the third quarter. Bank of New York Mellon Corp now owns 61,546 shares of the insurance provider’s stock worth $66,729,000 after acquiring an additional 5,481 shares during the period. Bayesian Capital Management LP purchased a new position in Markel in the third quarter valued at about $324,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Markel during the 3rd quarter valued at approximately $221,000. 75.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKL. Janney Montgomery Scott began coverage on shares of Markel in a report on Thursday, December 22nd. They issued a “buy” rating and a $1,550.00 price target on the stock. StockNews.com raised Markel from a “hold” rating to a “buy” rating in a research report on Monday, February 20th. Truist Financial lifted their price objective on Markel from $1,300.00 to $1,400.00 and gave the stock a “hold” rating in a report on Friday, February 3rd. Finally, TheStreet upgraded Markel from a “c+” rating to a “b-” rating in a research note on Friday, December 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,516.67.

Insider Buying and Selling at Markel

In other news, CEO Thomas Sinnickson Gayner acquired 25 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was bought at an average cost of $1,317.18 per share, for a total transaction of $32,929.50. Following the completion of the transaction, the chief executive officer now owns 42,109 shares of the company’s stock, valued at $55,465,132.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.74% of the company’s stock.

Markel Price Performance

Markel stock opened at $1,234.15 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.67 and a quick ratio of 0.67. Markel Co. has a one year low of $1,064.09 and a one year high of $1,519.24. The firm has a market capitalization of $16.55 billion, a P/E ratio of -53.15 and a beta of 0.78. The business has a fifty day moving average price of $1,356.54 and a 200-day moving average price of $1,267.34.

Markel Profile

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Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the Insurance and Reinsurance segments. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.