Treasurer of the State of North Carolina Cuts Position in Markel Group Inc. (NYSE:MKL)

Treasurer of the State of North Carolina reduced its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,571 shares of the insurance provider's stock after selling 2,641 shares during the period. Treasurer of the State of North Carolina's holdings in Markel Group were worth $9,617,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MKL. DRW Securities LLC purchased a new position in Markel Group in the fourth quarter worth about $354,000. Rathbones Group PLC increased its holdings in Markel Group by 30.1% during the fourth quarter. Rathbones Group PLC now owns 1,389 shares of the insurance provider's stock valued at $2,398,000 after buying an additional 321 shares during the last quarter. Russell Investments Group Ltd. raised its position in Markel Group by 48.8% in the fourth quarter. Russell Investments Group Ltd. now owns 22,878 shares of the insurance provider's stock worth $39,493,000 after acquiring an additional 7,507 shares during the period. Annandale Capital LLC boosted its stake in shares of Markel Group by 0.6% during the 4th quarter. Annandale Capital LLC now owns 3,137 shares of the insurance provider's stock worth $5,415,000 after acquiring an additional 19 shares during the last quarter. Finally, Aviva PLC raised its holdings in Markel Group by 1,501.8% in the 4th quarter. Aviva PLC now owns 7,801 shares of the insurance provider's stock worth $13,466,000 after purchasing an additional 7,314 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, Director Steven A. Markel sold 800 shares of the business's stock in a transaction on 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 completion of the sale, the director now directly owns 64,868 shares of the company's stock, valued at approximately $120,446,902.40. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were bought 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 in the company, valued at $98,282,049.45. This represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,034 shares of company stock worth $3,778,952 over the last three months. 1.71% of the stock is owned by insiders.

Markel Group Price Performance

Shares of MKL traded down $5.69 during midday trading on Tuesday, hitting $1,782.56. 44,039 shares of the company traded hands, compared to its average volume of 48,024. Markel Group Inc. has a 52 week low of $1,417.65 and a 52 week high of $2,063.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a 50 day moving average of $1,848.95 and a 200-day moving average of $1,748.49. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 8.96 and a beta of 0.70.

Markel Group (NYSE:MKL - Get Free Report) last issued its quarterly earnings data 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, analysts forecast that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on MKL shares. StockNews.com cut Markel Group from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Royal Bank of Canada increased their target price on shares of Markel Group from $1,750.00 to $2,025.00 and gave the stock 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.com, the stock presently has an average rating of "Hold" and an average target price of $1,702.20.

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.