Markel Group Inc. (NYSE:MKL) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in Markel Group Inc. (NYSE:MKL) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,372 shares of the insurance provider’s stock after selling 243 shares during the period. Pictet Asset Management Holding SA’s holdings in Markel Group were worth $9,273,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Markel Group during the 4th quarter worth $254,795,000. Blair William & Co. IL increased its stake in shares of Markel Group by 10.7% during the fourth quarter. Blair William & Co. IL now owns 10,294 shares of the insurance provider’s stock worth $17,770,000 after acquiring an additional 999 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Markel Group by 8.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,332 shares of the insurance provider’s stock worth $15,986,000 after purchasing an additional 727 shares in the last quarter. Korea Investment CORP lifted its position in Markel Group by 1.9% in the fourth quarter. Korea Investment CORP now owns 8,247 shares of the insurance provider’s stock valued at $14,236,000 after purchasing an additional 155 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Markel Group in the 4th quarter valued at approximately $226,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Up 1.1 %

MKL opened at $1,880.79 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 9.45 and a beta of 0.82. Markel Group Inc. has a one year low of $1,417.65 and a one year high of $2,063.68. The business’s fifty day moving average is $1,870.34 and its two-hundred day moving average is $1,735.98.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $20.51 EPS for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. Analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MKL. StockNews.com downgraded Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised their target price on Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1,702.20.

Insider Buying and Selling

In other news, CEO Thomas Sinnickson Gayner purchased 100 shares of the stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $2,008.01 per share, for a total transaction of $200,801.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,945 shares in the company, valued at $98,282,049.45. This represents a 0.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Markel sold 1,146 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the transaction, the director now directly owns 63,722 shares in the company, valued at $118,426,699.78. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,034 shares of company stock worth $3,778,952 in the last ninety days. Insiders own 1.71% of the company’s stock.

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.