Jennison Associates LLC Has $116.02 Million Position in Markel Group Inc. (NYSE:MKL)

Jennison Associates LLC lessened its holdings in Markel Group Inc. (NYSE:MKL) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,256 shares of the insurance provider’s stock after selling 1,739 shares during the period. Jennison Associates LLC owned 0.58% of Markel Group worth $116,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Markel Group in the 4th quarter valued at $30,000. Blue Trust Inc. lifted its position in Markel Group by 133.3% during the 4th quarter. Blue Trust Inc. now owns 21 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 12 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Markel Group during the 4th quarter worth $57,000. Benjamin F. Edwards & Company Inc. lifted its position in 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 acquiring an additional 23 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Markel Group during the 3rd quarter worth $125,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Insider Activity

In other news, Director Steven A. Markel sold 3,000 shares of the 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 sale, the director now directly owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Markel Group 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 value of $4,915,170.00. Following the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 634 shares in the company, valued at $1,027,606.22. The disclosure for this sale can be found here. 1.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Markel Group Price Performance

Shares of MKL traded up $16.29 during mid-day trading on Monday, hitting $1,551.98. 33,978 shares of the company traded hands, compared to its average volume of 45,649. Markel Group Inc. has a one year low of $1,295.65 and a one year high of $1,670.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $1,591.42 and a 200 day moving average of $1,507.33. The stock has a market capitalization of $20.18 billion, a price-to-earnings ratio of 8.38 and a beta of 0.73.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS 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 for the quarter, compared to the consensus estimate of $3.62 billion. As a group, equities analysts expect that Markel Group Inc. will post 82.83 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.