State Board of Administration of Florida Retirement System raised its stake in Markel Corporation (NYSE:MKL) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,274 shares of the insurance provider’s stock after buying an additional 756 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Markel Corporation worth $17,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Trust Co. raised its position in shares of Markel Corporation by 0.4% in the second quarter. Cambridge Trust Co. now owns 462 shares of the insurance provider’s stock valued at $451,000 after buying an additional 2 shares during the period. Ironwood Investment Management LLC raised its position in shares of Markel Corporation by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 444 shares of the insurance provider’s stock valued at $433,000 after buying an additional 3 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of Markel Corporation by 0.7% in the second quarter. Stratos Wealth Partners LTD. now owns 461 shares of the insurance provider’s stock valued at $450,000 after buying an additional 3 shares during the period. Somerset Trust Co raised its position in shares of Markel Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 897 shares of the insurance provider’s stock valued at $875,000 after buying an additional 4 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of Markel Corporation by 0.5% in the first quarter. Private Advisor Group LLC now owns 1,116 shares of the insurance provider’s stock valued at $1,085,000 after buying an additional 5 shares during the period. Institutional investors own 76.51% of the company’s stock.

Markel Corporation (MKL) opened at 1054.59 on Friday. The company has a 50-day moving average of $1,031.23 and a 200-day moving average of $985.43. Markel Corporation has a 1-year low of $811.05 and a 1-year high of $1,086.68. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 36.47 and a beta of 1.03.

Markel Corporation (NYSE:MKL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $9.94 EPS for the quarter, topping the Zacks’ consensus estimate of $6.27 by $3.67. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Markel Corporation had a return on equity of 4.81% and a net margin of 7.58%. On average, equities analysts predict that Markel Corporation will post $28.59 earnings per share for the current year.

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A number of research firms recently issued reports on MKL. Zacks Investment Research upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of Markel Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. ValuEngine upgraded shares of Markel Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Boenning Scattergood set a $1,050.00 target price on shares of Markel Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Markel Corporation has an average rating of “Hold” and an average price target of $1,050.00.

In other news, CEO Richard R. Whitt III sold 600 shares of Markel Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $1,045.93, for a total transaction of $627,558.00. Following the sale, the chief executive officer now directly owns 11,339 shares in the company, valued at approximately $11,859,800.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard R. Whitt III sold 100 shares of Markel Corporation stock in a transaction on Monday, August 21st. The stock was sold at an average price of $1,050.00, for a total value of $105,000.00. Following the sale, the chief executive officer now owns 11,939 shares in the company, valued at $12,535,950. The disclosure for this sale can be found here. Insiders have sold a total of 5,627 shares of company stock worth $6,013,072 over the last quarter. Company insiders own 2.53% of the company’s stock.

About Markel Corporation

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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Institutional Ownership by Quarter for Markel Corporation (NYSE:MKL)

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