BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 49 Shares of Markel Group Inc. (NYSE:MKL)

by · The Cerbat Gem

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Markel Group Inc. (NYSE:MKL – Free Report) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,147 shares of the insurance provider’s stock after selling 49 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Markel Group were worth $1,587,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in shares of Markel Group during the first quarter valued at about $148,000. American Century Companies Inc. lifted its position in Markel Group by 11.9% in the 1st quarter. American Century Companies Inc. now owns 628 shares of the insurance provider’s stock valued at $926,000 after acquiring an additional 67 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Markel Group during the 1st quarter valued at about $549,000. Rhumbline Advisers increased its holdings in Markel Group by 2.7% during the 1st quarter. Rhumbline Advisers now owns 11,913 shares of the insurance provider’s stock worth $17,575,000 after purchasing an additional 308 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Markel Group by 4.7% in the first quarter. Yousif Capital Management LLC now owns 332 shares of the insurance provider’s stock worth $490,000 after purchasing an additional 15 shares during the last quarter. 76.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MKL shares. Citigroup assumed coverage on Markel Group in a report on Wednesday, November 22nd. They set a “sell” rating and a $1,275.00 price target for the company. Jefferies Financial Group began coverage on shares of Markel Group in a research note on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price objective for the company. Truist Financial cut their target price on Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Royal Bank of Canada decreased their price target on Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Finally, StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Markel Group has a consensus rating of “Hold” and a consensus price target of $1,480.00.

View Our Latest Stock Analysis on MKL

Markel Group Trading Down 0.7 %

NYSE:MKL opened at $1,400.56 on Wednesday. Markel Group Inc. has a 12 month low of $1,186.56 and a 12 month high of $1,560.00. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $1,431.92 and its 200 day moving average is $1,425.41. The stock has a market capitalization of $18.52 billion, a PE ratio of 10.04 and a beta of 0.71.

Markel Group (NYSE:MKL – Get Free Report) last issued its earnings results on Wednesday, November 1st. The insurance provider reported $16.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $21.00 by ($4.44). Markel Group had a net margin of 12.47% and a return on equity of 8.68%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.66 billion. Sell-side analysts expect that Markel Group Inc. will post 80.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Thomas Sinnickson Gayner bought 100 shares of the stock in a transaction on Friday, November 3rd. The shares were acquired at an average price of $1,311.92 per share, for a total transaction of $131,192.00. Following the purchase, the chief executive officer now owns 44,985 shares of the company’s stock, valued at $59,016,721.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Markel Group news, CEO Thomas Sinnickson Gayner purchased 100 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $1,311.92 per share, for a total transaction of $131,192.00. Following the purchase, the chief executive officer now directly owns 44,985 shares of the company’s stock, valued at approximately $59,016,721.20. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Lynne Puckett bought 76 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $1,321.47 per share, for a total transaction of $100,431.72. Following the completion of the acquisition, the director now owns 1,320 shares in the company, valued at approximately $1,744,340.40. The disclosure for this purchase can be found here. Insiders have acquired 197 shares of company stock worth $259,361 in the last ninety days. 1.75% of the stock is currently owned by insiders.

Markel Group Profile

(Free Report)

Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. 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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