Beck Mack & Oliver LLC Trims Stock Position in Markel Group Inc. $MKL

by · The Cerbat Gem

Beck Mack & Oliver LLC trimmed its stake in Markel Group Inc. (NYSE:MKL – Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,350 shares of the insurance provider’s stock after selling 4,377 shares during the period. Markel Group accounts for about 1.0% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 28th biggest holding. Beck Mack & Oliver LLC owned about 0.20% of Markel Group worth $50,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Markel Group by 0.8% in the second quarter. Vanguard Group Inc. now owns 1,167,813 shares of the insurance provider’s stock worth $2,332,543,000 after buying an additional 9,303 shares during the period. DAVENPORT & Co LLC raised its position in shares of Markel Group by 0.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 204,702 shares of the insurance provider’s stock worth $408,364,000 after acquiring an additional 1,383 shares in the last quarter. Select Equity Group L.P. purchased a new position in shares of Markel Group in the 1st quarter valued at approximately $357,512,000. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of Markel Group by 20.1% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider’s stock valued at $273,105,000 after purchasing an additional 24,487 shares in the last quarter. Finally, Norges Bank purchased a new stake in Markel Group in the second quarter worth $288,361,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Performance

Shares of Markel Group stock opened at $2,165.51 on Friday. Markel Group Inc. has a 1 year low of $1,621.89 and a 1 year high of $2,169.95. The firm’s 50-day moving average is $1,999.24 and its 200 day moving average is $1,971.44. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 13.56 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.60 and a quick ratio of 0.60.

Markel Group (NYSE:MKL – Get Free Report) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $22.77 by $8.13. Markel Group had a net margin of 12.99% and a return on equity of 7.76%. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Sell-side analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MKL. Cowen restated a “hold” rating on shares of Markel Group in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b+)” rating on shares of Markel Group in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Markel Group presently has an average rating of “Moderate Buy” and an average target price of $2,025.00.

Check Out Our Latest Stock Analysis on Markel Group

Insider Activity at Markel Group

In other news, CEO Simon Wilson sold 75 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $2,072.94, for a total transaction of $155,470.50. Following the transaction, the chief executive officer directly owned 1,770 shares of the company’s stock, valued at $3,669,103.80. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Markel sold 100 shares of Markel Group stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $2,100.00, for a total value of $210,000.00. Following the completion of the sale, the director owned 61,698 shares of the company’s stock, valued at $129,565,800. The trade was a 0.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 245 shares of company stock worth $512,471 over the last ninety days. 1.66% of the stock is currently owned by insiders.

About Markel Group

(Free Report)

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.

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