Markel Corp. (MKL) Shares Sold by Hutchinson Capital Management CA
Hutchinson Capital Management CA reduced its stake in shares of Markel Corp. (NYSE:MKL) by 41.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,581 shares of the company’s stock after selling 12,287 shares during the period. Markel Corp. accounts for about 5.1% of Hutchinson Capital Management CA’s portfolio, making the stock its 8th largest position. Hutchinson Capital Management CA owned approximately 0.13% of Markel Corp. worth $16,751,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MKL. Checchi Capital Advisers LLC raised its position in Markel Corp. by 8.3% in the second quarter. Checchi Capital Advisers LLC now owns 182 shares of the company’s stock valued at $173,000 after buying an additional 14 shares during the last quarter. NEXT Financial Group Inc raised its position in Markel Corp. by 61.8% in the second quarter. NEXT Financial Group Inc now owns 220 shares of the company’s stock valued at $209,000 after buying an additional 84 shares during the last quarter. Hartford Investment Management Co. raised its position in Markel Corp. by 4.0% in the second quarter. Hartford Investment Management Co. now owns 258 shares of the company’s stock valued at $246,000 after buying an additional 10 shares during the last quarter. Oakbrook Investments LLC acquired a new position in Markel Corp. during the second quarter valued at approximately $286,000. Finally, Union Bankshares Corp acquired a new position in Markel Corp. during the second quarter valued at approximately $417,000. Hedge funds and other institutional investors own 75.11% of the company’s stock.
Markel Corp. (NYSE:MKL) traded down 1.06% during mid-day trading on Wednesday, hitting $901.79. 31,816 shares of the stock were exchanged. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 23.68 and a beta of 0.82. Markel Corp. has a 52 week low of $805.03 and a 52 week high of $989.18. The company has a 50 day moving average price of $926.44 and a 200 day moving average price of $931.49.
Markel Corp. (NYSE:MKL) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $5.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.39 by $0.98. Markel Corp. had a return on equity of 6.65% and a net margin of 9.78%. Analysts expect that Markel Corp. will post $33.38 EPS for the current fiscal year.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Markel Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. SunTrust Banks Inc. raised their price target on shares of Markel Corp. from $920.00 to $950.00 and gave the company a “neutral” rating in a report on Thursday, August 4th.
About Markel Corp.
Markel Corporation is a financial holding company serving a range of markets. The Company’s principal business markets and underwrites specialty insurance products. The Company monitors and reports its ongoing underwriting operations in three segments: U.S. Insurance, International Insurance and Reinsurance.
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