Confluence Investment Management LLC Sells 1,600 Shares of Markel Group Inc. (NYSE:MKL)

Confluence Investment Management LLC cut its holdings in Markel Group Inc. (NYSE:MKL) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,294 shares of the insurance provider’s stock after selling 1,600 shares during the period. Confluence Investment Management LLC’s holdings in Markel Group were worth $59,884,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley lifted its stake in shares of Markel Group by 521.2% in the 4th quarter. Morgan Stanley now owns 530,597 shares of the insurance provider’s stock valued at $699,057,000 after acquiring an additional 445,182 shares during the last quarter. Norges Bank purchased a new stake in shares of Markel Group during the fourth quarter valued at approximately $182,438,000. Cooke & Bieler LP bought a new position in shares of Markel Group in the first quarter worth approximately $59,796,000. Davis Selected Advisers increased its stake in shares of Markel Group by 20.2% in the fourth quarter. Davis Selected Advisers now owns 250,362 shares of the insurance provider’s stock worth $329,849,000 after buying an additional 42,142 shares during the period. Finally, Jennison Associates LLC bought a new stake in Markel Group during the 1st quarter valued at $48,324,000. 76.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Greta J. Harris sold 103 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $1,491.88, for a total value of $153,663.64. Following the completion of the transaction, the director now owns 656 shares in the company, valued at approximately $978,673.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Greta J. Harris sold 103 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $1,491.88, for a total value of $153,663.64. Following the sale, the director now directly owns 656 shares of the company’s stock, valued at approximately $978,673.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. Markel sold 350 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $1,482.52, for a total transaction of $518,882.00. Following the completion of the transaction, the director now owns 70,366 shares of the company’s stock, valued at $104,319,002.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,151 shares of company stock worth $1,698,305. Company insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MKL. Jefferies Financial Group began coverage on shares of Markel Group in a report on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price target on the stock. StockNews.com began coverage on Markel Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Truist Financial upped their price target on Markel Group from $1,400.00 to $1,550.00 and gave the company a “hold” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Markel Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,616.67.

Markel Group Stock Up 0.1 %

Shares of Markel Group stock opened at $1,505.07 on Thursday. The company’s fifty day simple moving average is $1,455.16 and its two-hundred day simple moving average is $1,368.66. Markel Group Inc. has a 12-month low of $1,064.09 and a 12-month high of $1,519.96. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.28. The company has a market cap of $19.96 billion, a P/E ratio of 10.76 and a beta of 0.78.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.17 by $3.26. Markel Group had a net margin of 12.87% and a return on equity of 8.77%. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Research analysts anticipate that Markel Group Inc. will post 84.42 EPS for the current year.

About Markel Group

Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. 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.