Markel Group Inc. (NYSE:MKL) Stock Position Cut by Avenir Corp

Avenir Corp cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,841 shares of the insurance provider’s stock after selling 5,094 shares during the period. Markel Group comprises approximately 10.5% of Avenir Corp’s holdings, making the stock its 2nd largest position. Avenir Corp owned approximately 0.62% of Markel Group worth $122,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Markel Group in the fourth quarter worth approximately $30,000. Blue Trust Inc. increased its stake in shares of Markel Group by 133.3% in the 4th quarter. Blue Trust Inc. now owns 21 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 12 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Markel Group during the fourth quarter valued at approximately $57,000. Evermay Wealth Management LLC purchased a new position in shares of Markel Group in the first quarter worth $75,000. Finally, Crewe Advisors LLC bought a new position in shares of Markel Group during the first quarter worth $81,000. 77.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 122 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,620.83, for a total value of $197,741.26. Following the completion of the sale, the director now directly owns 634 shares in the company, valued at approximately $1,027,606.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Steven A. Markel sold 3,000 shares of Markel Group 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 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 filing with the SEC, which is accessible through this link. Also, Director Greta J. Harris sold 122 shares of the business’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 completion of the transaction, the director now directly owns 634 shares of the company’s stock, valued at approximately $1,027,606.22. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target 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. TD Cowen assumed coverage on Markel Group in a research report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 target price on the stock. Truist Financial raised their price target on Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Citigroup raised their price objective on Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1,626.83.

Markel Group Trading Up 1.3 %

Markel Group stock traded up $20.32 during midday trading on Tuesday, reaching $1,645.39. The stock had a trading volume of 42,896 shares, compared to its average volume of 45,024. Markel Group Inc. has a 52-week low of $1,295.65 and a 52-week high of $1,670.24. The company has a fifty day moving average of $1,585.96 and a 200 day moving average of $1,527.06. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 8.89 and a beta of 0.73. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.62 billion. Markel Group had a return on equity of 11.18% and a net margin of 15.23%. On average, analysts anticipate that Markel Group Inc. will post 82.93 earnings per share for the current fiscal year.

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.