Edgemoor Investment Advisors Inc. Reduces Stock Position in Markel Group Inc. (NYSE:MKL)

Edgemoor Investment Advisors Inc. trimmed its holdings in Markel Group Inc. (NYSE:MKL) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154 shares of the insurance provider’s stock after selling 12 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Markel Group were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Markel Group during the 4th quarter valued at $214,216,000. Boston Partners lifted its holdings in shares of Markel Group by 400.1% in the fourth quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after buying an additional 125,507 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Markel Group in the first quarter valued at approximately $133,143,000. Confluence Investment Management LLC purchased a new position in Markel Group during the first quarter valued at approximately $60,937,000. Finally, TD Asset Management Inc increased its holdings in Markel Group by 248.2% during the 4th quarter. TD Asset Management Inc now owns 40,277 shares of the insurance provider’s stock worth $57,189,000 after acquiring an additional 28,711 shares during the period. Institutional investors own 77.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MKL shares. TD Cowen began coverage on shares of Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price target for the company. Citigroup boosted their target price on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research report 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,626.83.

Insider Buying and Selling at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham acquired 20 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $1,512.50 per share, for a total transaction of $30,250.00. Following the acquisition, the director now owns 743 shares in the company, valued at approximately $1,123,787.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.71% of the company’s stock.

Markel Group Price Performance

NYSE:MKL traded down $0.55 during midday trading on Monday, hitting $1,533.24. The company had a trading volume of 1,620 shares, compared to its average volume of 42,973. The company has a market capitalization of $19.84 billion, a PE ratio of 8.28 and a beta of 0.73. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. Markel Group Inc. has a 52-week low of $1,295.65 and a 52-week high of $1,670.24. The stock’s fifty day moving average price is $1,566.48 and its 200-day moving average price is $1,547.40.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $20.76 by $5.19. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. As a group, research analysts expect that Markel Group Inc. will post 89.1 earnings per share for the current 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.