Markel Group Inc. (NYSE:MKL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Markel Group Inc. (NYSE:MKL) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,212 shares of the insurance provider’s stock after selling 1,785 shares during the period. California Public Employees Retirement System owned approximately 0.64% of Markel Group worth $119,573,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of Markel Group in the fourth quarter valued at approximately $18,145,000. Pinnacle Associates Ltd. grew its holdings in Markel Group by 7.1% during the 4th quarter. Pinnacle Associates Ltd. now owns 17,656 shares of the insurance provider’s stock worth $25,070,000 after acquiring an additional 1,167 shares in the last quarter. Chicago Capital LLC acquired a new position in Markel Group during the 4th quarter worth approximately $3,313,000. Allspring Global Investments Holdings LLC grew its holdings in Markel Group by 616.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,219 shares of the insurance provider’s stock worth $5,991,000 after acquiring an additional 3,630 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its holdings in Markel Group by 11.9% during the 4th quarter. Carmel Capital Partners LLC now owns 582 shares of the insurance provider’s stock worth $826,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company’s stock.

Insider Buying and Selling

In related news, Director A. Lynne Puckett purchased 72 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average price of $1,409.28 per share, with a total value of $101,468.16. Following the completion of the acquisition, the director now directly owns 960 shares in the company, valued at approximately $1,352,908.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average price of $1,414.74 per share, with a total value of $141,474.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,039 shares in the company, valued at approximately $63,718,474.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A. Lynne Puckett purchased 72 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average cost of $1,409.28 per share, for a total transaction of $101,468.16. Following the acquisition, the director now owns 960 shares of the company’s stock, valued at $1,352,908.80. The disclosure for this purchase can be found here. Corporate insiders own 1.71% of the company’s stock.

Wall Street Analysts Forecast Growth

MKL has been the subject of several analyst reports. Janney Montgomery Scott reiterated a “neutral” rating and set a $1,600.00 price target on shares of Markel Group in a report on Friday, March 15th. Royal Bank of Canada restated a “sector perform” rating and set a $1,475.00 price objective on shares of Markel Group in a research report on Friday, February 2nd. Finally, Jefferies Financial Group downgraded shares of Markel Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,450.00.

Markel Group Stock Up 0.6 %

Shares of NYSE:MKL opened at $1,479.65 on Wednesday. The firm has a 50 day simple moving average of $1,484.74 and a 200-day simple moving average of $1,444.84. Markel Group Inc. has a twelve month low of $1,272.43 and a twelve month high of $1,560.00. The company has a market capitalization of $19.29 billion, a PE ratio of 10.07 and a beta of 0.70. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26.

Markel Group (NYSE:MKL) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share for the quarter, topping analysts’ consensus estimates of $23.58 by $32.90. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Markel Group had a net margin of 12.63% and a return on equity of 11.22%. On average, equities analysts predict that Markel Group Inc. will post 80.08 EPS 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.