Pinnacle Associates Ltd. Trims Stock Position in Markel Group Inc. $MKL

Pinnacle Associates Ltd. cut its stake in Markel Group Inc. (NYSE:MKL) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,702 shares of the insurance provider’s stock after selling 195 shares during the period. Pinnacle Associates Ltd. owned about 0.15% of Markel Group worth $37,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Markel Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,158,510 shares of the insurance provider’s stock valued at $2,165,962,000 after acquiring an additional 7,914 shares during the last quarter. Davis Selected Advisers lifted its position in Markel Group by 0.3% in the first quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider’s stock valued at $694,502,000 after acquiring an additional 947 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Markel Group by 0.7% in the second quarter. DAVENPORT & Co LLC now owns 204,702 shares of the insurance provider’s stock valued at $408,364,000 after buying an additional 1,383 shares during the last quarter. Select Equity Group L.P. purchased a new stake in shares of Markel Group in the first quarter valued at about $357,512,000. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Markel Group by 20.1% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider’s stock valued at $273,105,000 after buying an additional 24,487 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Trading Up 6.1%

Shares of Markel Group stock opened at $1,937.52 on Friday. Markel Group Inc. has a 52-week low of $1,521.25 and a 52-week high of $2,075.92. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The company’s 50-day simple moving average is $1,926.10 and its 200-day simple moving average is $1,925.92. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 12.13 and a beta of 0.78.

Markel Group (NYSE:MKL) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $22.77 by $8.13. Markel Group had a net margin of 12.99% and a return on equity of 7.91%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.77 billion. As a group, equities research analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on MKL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Markel Group in a report on Wednesday, October 8th. 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1,930.50.

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.