Commonwealth Equity Services LLC Reduces Stock Position in Markel Group Inc. (NYSE:MKL)

Commonwealth Equity Services LLC trimmed its holdings in Markel Group Inc. (NYSE:MKL) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,994 shares of the insurance provider’s stock after selling 42 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Markel Group were worth $6,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKL. Victory Capital Management Inc. increased its holdings in Markel Group by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,845 shares of the insurance provider’s stock worth $9,168,000 after acquiring an additional 300 shares during the period. Empowered Funds LLC increased its holdings in shares of Markel Group by 44.8% in the third quarter. Empowered Funds LLC now owns 249 shares of the insurance provider’s stock worth $391,000 after purchasing an additional 77 shares during the period. Pathstone Holdings LLC raised its position in shares of Markel Group by 2.5% in the third quarter. Pathstone Holdings LLC now owns 2,550 shares of the insurance provider’s stock worth $4,000,000 after buying an additional 63 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Markel Group during the third quarter valued at $551,000. Finally, PNC Financial Services Group Inc. grew its position in Markel Group by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,161 shares of the insurance provider’s stock worth $9,664,000 after buying an additional 67 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Markel Group Price Performance

Shares of Markel Group stock opened at $1,833.40 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a one year low of $1,417.65 and a one year high of $2,063.68. The business’s 50 day simple moving average is $1,852.81 and its two-hundred day simple moving average is $1,717.05. The stock has a market capitalization of $23.41 billion, a P/E ratio of 9.21 and a beta of 0.82.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 EPS for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. Analysts forecast that Markel Group Inc. will post 96.25 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on MKL shares. StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. TD Cowen lowered shares of Markel Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada raised their price objective on Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,702.20.

Insider Activity

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $2,008.01 per share, for a total transaction of $200,801.00. Following the acquisition, the chief executive officer now owns 48,945 shares of the company’s stock, valued at $98,282,049.45. This trade represents a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven A. Markel sold 800 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $1,856.80, for a total transaction of $1,485,440.00. Following the transaction, the director now owns 64,868 shares in the company, valued at $120,446,902.40. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,034 shares of company stock valued at $3,778,952. Insiders own 1.71% of the company’s stock.

Markel Group Profile

Markel Group Inc, a diverse holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, and Germany. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.