, president and chief investment officer at Markel Corp. (
) and president of its subsidiary Markel Corp, continues to shed
Union First Market Bankshares (
) in his third reduction this month, according to GuruFocus
Real Time Picks
. On Feb. 15, the typical long-term holder Gayner reduced another
1.69% of Union First Market Bankshares Corp (
) at the average price of $17.76 that day, as reported in the
latest insider filings.
Gayner now owns 2,495,997 shares of UBSH. Since the trade, UBSH
stock price has gone up 1.91%. In February alone, Markel Corp, a
10 percent owner, has sold 128,484 UBSH shares to date.
With a portfolio value of $2.4 billion, Markel Gayner Asset
Management Corporation lists 102 stocks in a portfolio heavily
weighted in financial services, at 27.7%, along with consumer
defensive weighted at 18.9%, consumer cyclical at 18%, and
technology at 13.5%. Markel's quarter-over-quarter turnover is
Markel Corporation (
) is a diverse financial holding company that underwrites
specialty insurance products and niche markets. Gayner invests in
companies that demonstrate profitability, excellent returns,
honest management, and reinvestment opportunities. Gayner uses a
strategy of value investing and focuses on the fair value of
stocks, compared to their market price.
A very impressive self-made man, Gayner has said, "I tend to be a
pretty slow seller. There are two reasons... A) I made a mistake,
it was wrong, and that usually involves some sort of character
judgment I made about the management, being disappointed in some
sort of tainted investing that seems inconsistent with what I
wanted to see. Or secondly... there are ideas that are just less
compelling than a new idea that you might have and you need some
money to pay for what you're buying. Generally speaking... there
are huge tax efficiencies for Markel for us to be able to buy and
hold something for a long period of time."
Profitable investments? Yes! Gayner has earned a cumulative
return of almost 102% return over the past 10 years. To learn
more about how
invests, please read GuruFocus' interview with Mr. Gayner.
Showing consistent revenue growth in every year of the past 10
years, Union First Market Bankshares Corp revenue is ranked lower
than 52% of the 634 companies in the industry; for return on
capital, Union First Market Bankshares Corp is ranked higher than
55% of the 634 companies in the industry. For the inside scoop on
UBSH, see http://www.gurufocus.com/stock/UBSH.
GuruFocus "Real Time Picks" reports the stock purchases and sales
that Gurus have made within the prior 2 weeks. The report time
lag can be as short as 2 days after the date of the transaction.
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