Markel Group Inc. (NYSE:MKL) Stock Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in Markel Group Inc. (NYSE:MKL) by 6.6% during the fourth quarter, Holdings Channel reports. The firm owned 5,757 shares of the insurance provider’s stock after selling 404 shares during the period. PNC Financial Services Group Inc.’s holdings in Markel Group were worth $9,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its holdings in shares of Markel Group by 4.2% in the 3rd quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock worth $516,391,000 after purchasing an additional 13,372 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Markel Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 209,054 shares of the insurance provider’s stock worth $327,131,000 after acquiring an additional 10,254 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Markel Group in the fourth quarter worth approximately $169,852,000. Jennison Associates LLC increased its position in shares of Markel Group by 9.9% in the fourth quarter. Jennison Associates LLC now owns 78,735 shares of the insurance provider’s stock worth $135,915,000 after acquiring an additional 7,102 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Markel Group by 7.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 73,771 shares of the insurance provider’s stock worth $135,667,000 after acquiring an additional 4,885 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Markel Group Stock Performance

Shares of MKL opened at $1,829.63 on Wednesday. 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 company has a market capitalization of $23.36 billion, a PE ratio of 9.19 and a beta of 0.81. Markel Group Inc. has a 52 week low of $1,417.65 and a 52 week high of $2,063.68. The company’s 50 day moving average price is $1,831.27 and its 200 day moving average price is $1,704.57.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $20.51 EPS for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a return on equity of 7.55% and a net margin of 16.34%. Research analysts expect that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Markel Group news, Director Steven A. Markel sold 88 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,860.03, for a total value of $163,682.64. Following the completion of the sale, the director now directly owns 63,436 shares of the company’s stock, valued at $117,992,863.08. The trade was a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Sinnickson Gayner bought 100 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the transaction, the chief executive officer now directly owns 48,945 shares of the company’s stock, valued at approximately $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 2,034 shares of company stock valued at $3,778,952 over the last ninety days. Corporate insiders own 1.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada boosted their price objective on shares of Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Finally, TD Cowen downgraded shares of Markel Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Markel Group currently has a consensus rating of “Hold” and a consensus price target of $1,685.17.

About Markel Group

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.