Rhumbline Advisers Lowers Stake in Markel Group Inc. $MKL

Rhumbline Advisers cut its holdings in shares of Markel Group Inc. (NYSE:MKL) by 6.8% during the second quarter, Holdings Channel.com reports. The fund owned 15,938 shares of the insurance provider’s stock after selling 1,156 shares during the period. Rhumbline Advisers’ holdings in Markel Group were worth $31,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Clearstead Trust LLC boosted its position in Markel Group by 180.0% during the second quarter. Clearstead Trust LLC now owns 14 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 9 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Markel Group by 183.3% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider’s stock valued at $32,000 after buying an additional 11 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Markel Group during the 1st quarter worth approximately $32,000. Chilton Capital Management LLC acquired a new position in shares of Markel Group during the 2nd quarter worth approximately $32,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Markel Group during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Insider Activity at Markel Group

In other news, CEO Simon Wilson sold 75 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $2,072.94, for a total value of $155,470.50. Following the transaction, the chief executive officer directly owned 1,770 shares of the company’s stock, valued at approximately $3,669,103.80. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of Markel Group in a report on Monday. Cowen reaffirmed a “hold” rating on shares of Markel Group in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Markel Group has an average rating of “Hold” and a consensus target price of $1,930.50.

Markel Group Stock Performance

Shares of NYSE:MKL opened at $2,084.81 on Thursday. The business’s 50 day moving average price is $1,961.16 and its 200-day moving average price is $1,956.02. Markel Group Inc. has a 1 year low of $1,621.89 and a 1 year high of $2,109.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $26.29 billion, a PE ratio of 13.05 and a beta of 0.77.

Markel Group (NYSE:MKL) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share for the quarter, beating analysts’ consensus estimates of $22.77 by $8.13. Markel Group had a return on equity of 7.91% and a net margin of 12.99%.The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.77 billion. As a group, equities research analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Markel Group 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.