Markel Group Inc. (NYSE:MKL) Shares Sold by Scharf Investments LLC

Scharf Investments LLC cut its position in shares of Markel Group Inc. (NYSE:MKL) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,999 shares of the insurance provider’s stock after selling 3,921 shares during the quarter. Markel Group accounts for 5.1% of Scharf Investments LLC’s portfolio, making the stock its 7th biggest holding. Scharf Investments LLC’s holdings in Markel Group were worth $187,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MKL. GAMMA Investing LLC bought a new stake in Markel Group in the fourth quarter valued at about $30,000. Blue Trust Inc. grew its stake in shares of Markel Group by 133.3% in the 4th quarter. Blue Trust Inc. now owns 21 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 12 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Markel Group in the 4th quarter worth approximately $57,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Markel Group by 40.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 80 shares of the insurance provider’s stock worth $114,000 after buying an additional 23 shares during the period. Finally, iA Global Asset Management Inc. bought a new position in shares of Markel Group during the 3rd quarter worth approximately $125,000. 77.12% of the stock is currently owned by institutional investors.

Insider Activity at Markel Group

In other news, Director Greta J. Harris sold 122 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the completion of the sale, the director now owns 634 shares in the company, valued at $1,027,606.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Greta J. Harris sold 122 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total value of $197,741.26. Following the transaction, the director now owns 634 shares of the company’s stock, valued at approximately $1,027,606.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Markel sold 3,000 shares of Markel Group stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the sale, the director now owns 66,668 shares of the company’s stock, valued at approximately $109,228,184.52. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by company insiders.

Markel Group Price Performance

Shares of NYSE:MKL traded up $11.31 during midday trading on Thursday, reaching $1,580.90. The company’s stock had a trading volume of 23,225 shares, compared to its average volume of 44,917. The business’s fifty day simple moving average is $1,577.30 and its 200-day simple moving average is $1,497.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.61 and a quick ratio of 0.61. Markel Group Inc. has a fifty-two week low of $1,295.65 and a fifty-two week high of $1,670.24. The company has a market capitalization of $20.55 billion, a P/E ratio of 8.54 and a beta of 0.73.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $18.17 earnings per share for the quarter, missing the consensus estimate of $18.50 by ($0.33). Markel Group had a net margin of 15.23% and a return on equity of 11.18%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.62 billion. As a group, equities research analysts expect that Markel Group Inc. will post 82.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MKL shares. Royal Bank of Canada upped their price target on Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Truist Financial upped their target price on shares of Markel Group from $1,400.00 to $1,600.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Janney Montgomery Scott reissued a “neutral” rating and set a $1,600.00 price target on shares of Markel Group in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, Markel Group currently has a consensus rating of “Hold” and an average target price of $1,520.00.

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.