Ironwood Investment Counsel LLC Decreases Stake in Markel Group Inc. (NYSE:MKL)

Ironwood Investment Counsel LLC decreased its stake in shares of Markel Group Inc. (NYSE:MKL) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133 shares of the insurance provider’s stock after selling 53 shares during the period. Ironwood Investment Counsel LLC’s holdings in Markel Group were worth $202,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Edgestream Partners L.P. lifted its position in shares of Markel Group by 176.6% during the first quarter. Edgestream Partners L.P. now owns 1,333 shares of the insurance provider’s stock worth $2,028,000 after purchasing an additional 851 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Markel Group by 4.7% during the first quarter. Intech Investment Management LLC now owns 758 shares of the insurance provider’s stock worth $1,153,000 after purchasing an additional 34 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Markel Group by 4.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 85,464 shares of the insurance provider’s stock worth $129,441,000 after purchasing an additional 3,560 shares during the last quarter. Poehling Capital Management INC. raised its stake in Markel Group by 2.7% during the first quarter. Poehling Capital Management INC. now owns 11,853 shares of the insurance provider’s stock worth $18,034,000 after acquiring an additional 311 shares during the period. Finally, Motco acquired a new stake in Markel Group during the first quarter worth about $175,000. Institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MKL. Royal Bank of Canada increased their price objective on shares of Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Truist Financial increased their price objective on shares of Markel Group from $1,400.00 to $1,600.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, TD Cowen began coverage on shares of Markel Group in a research note on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1,597.67.

Insider Activity at Markel Group

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

Markel Group Stock Performance

Shares of NYSE:MKL traded down $10.77 during trading hours on Monday, hitting $1,562.63. The stock had a trading volume of 30,163 shares, compared to its average volume of 44,998. Markel Group Inc. has a 1-year low of $1,295.65 and a 1-year high of $1,670.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 8.50 and a beta of 0.73. The stock’s fifty day simple moving average is $1,593.28 and its 200 day simple moving average is $1,518.70.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.62 billion. Sell-side analysts anticipate that Markel Group Inc. will post 82.93 earnings per share for the current fiscal year.

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.