Ameriprise Financial Inc. Grows Stake in Markel Co. (MKL)
Ameriprise Financial Inc. increased its stake in shares of Markel Co. (NYSE:MKL) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,209 shares of the insurance provider’s stock after purchasing an additional 535 shares during the period. Ameriprise Financial Inc. owned approximately 0.10% of Markel worth $14,108,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in shares of Markel by 40.3% during the second quarter. Proficio Capital Partners LLC now owns 94 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 27 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Markel during the second quarter valued at approximately $166,000. Toronto Dominion Bank raised its holdings in shares of Markel by 11.0% during the second quarter. Toronto Dominion Bank now owns 171 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 17 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Markel during the third quarter valued at approximately $202,000. Finally, Klingenstein Fields & Co. LLC purchased a new position in shares of Markel during the third quarter valued at approximately $214,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Markel Co. (NYSE:MKL) opened at $1,147.10 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.28. The stock has a market cap of $15,564.49, a P/E ratio of 367.34 and a beta of 1.05. Markel Co. has a 12-month low of $612.00 and a 12-month high of $1,147.70.
In related news, insider Alan I. Kirshner sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $1,077.70, for a total transaction of $107,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven A. Markel sold 200 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $1,065.64, for a total transaction of $213,128.00. Following the sale, the insider now owns 109,550 shares of the company’s stock, valued at $116,740,862. The disclosure for this sale can be found here. Insiders have sold 2,307 shares of company stock valued at $2,510,338 over the last 90 days. 2.53% of the stock is currently owned by company insiders.
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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