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

by · The Markets Daily

Pinnacle Associates Ltd. decreased its holdings in shares of Markel Group Inc. (NYSE:MKL – Free Report) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,407 shares of the insurance provider’s stock after selling 295 shares during the period. Pinnacle Associates Ltd.’s holdings in Markel Group were worth $35,182,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MKL. Clearstead Trust LLC raised its position in Markel Group by 180.0% in the second quarter. Clearstead Trust LLC now owns 14 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 9 shares during the period. GoalVest Advisory LLC purchased a new stake in shares of Markel Group in the third quarter worth about $38,000. Hemington Wealth Management grew its stake in shares of Markel Group by 35.3% in the third quarter. Hemington Wealth Management now owns 23 shares of the insurance provider’s stock valued at $43,000 after buying an additional 6 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Markel Group by 316.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25 shares of the insurance provider’s stock valued at $48,000 after buying an additional 19 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Markel Group during the 3rd quarter valued at about $54,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Simon Wilson sold 100 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $2,079.48, for a total value of $207,948.00. Following the sale, the chief executive officer owned 2,397 shares in the company, valued at approximately $4,984,513.56. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Markel sold 1,330 shares of Markel Group stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,119.12, for a total value of $2,818,429.60. Following the completion of the transaction, the director owned 60,368 shares of the company’s stock, valued at $127,927,036.16. This trade represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.66% of the stock is currently owned by insiders.

Markel Group Stock Performance

Shares of MKL opened at $1,983.75 on Friday. The business’s 50 day moving average is $2,078.10 and its two-hundred day moving average is $2,024.74. Markel Group Inc. has a 52-week low of $1,621.89 and a 52-week high of $2,207.59. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 11.69 and a beta of 0.77. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

MKL has been the subject of a number of analyst reports. Truist Financial upped their price target on Markel Group from $2,000.00 to $2,100.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Zacks Research lowered shares of Markel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Markel Group in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2,100.00.

Check Out Our Latest Stock Report on MKL

Markel Group Profile

(Free Report)

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.

Featured Articles

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL – Free Report).