CenterBook Partners LP Reduces Stock Position in Markel Group Inc. (NYSE:MKL)

CenterBook Partners LP lowered its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 67.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 863 shares of the insurance provider's stock after selling 1,804 shares during the period. CenterBook Partners LP's holdings in Markel Group were worth $1,490,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Markel Group during the fourth quarter valued at about $254,795,000. Proficio Capital Partners LLC purchased a new stake in shares of Markel Group during the 4th quarter valued at about $169,852,000. Davis Selected Advisers raised its position in shares of Markel Group by 27.9% during the 4th quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider's stock valued at $639,606,000 after purchasing an additional 80,922 shares during the period. Raymond James Financial Inc. purchased a new position in Markel Group during the 4th quarter valued at approximately $98,743,000. Finally, Boston Partners raised its holdings in Markel Group by 17.6% during the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider's stock valued at $486,580,000 after buying an additional 42,178 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Stock Performance

Markel Group stock traded up $2.45 on Wednesday, hitting $1,783.50. The company's stock had a trading volume of 16,653 shares, compared to its average volume of 63,435. The firm has a market cap of $22.67 billion, a P/E ratio of 8.96 and a beta of 0.70. Markel Group Inc. has a one year low of $1,417.65 and a one year high of $2,063.68. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $1,848.95 and a 200-day moving average price of $1,748.49.

Markel Group (NYSE:MKL - Get Free Report) 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 return on equity of 7.55% and a net margin of 16.34%. On average, equities analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MKL shares. StockNews.com lowered shares of Markel Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada raised their target price on Markel Group from $1,750.00 to $2,025.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $1,702.20.

Insider Buying and Selling at Markel Group

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the company's stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $2,008.01 per share, with a total value of $200,801.00. Following the acquisition, the chief executive officer now directly owns 48,945 shares of the company's stock, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven A. Markel sold 1,146 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,858.49, for a total value of $2,129,829.54. Following the completion of the sale, the director now owns 63,722 shares of the company's stock, valued at $118,426,699.78. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,034 shares of company stock worth $3,778,952. Insiders own 1.66% of the company's stock.

Markel Group Company 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.