Markel Group Inc. (NYSE:MKL) Short Interest Update

Markel Group Inc. (NYSE:MKL) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 68,400 shares, a drop of 5.1% from the October 15th total of 72,100 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 46,100 shares, the days-to-cover ratio is currently 1.5 days.

Markel Group Stock Performance

Shares of Markel Group stock opened at $1,403.61 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $18.56 billion, a P/E ratio of 10.06 and a beta of 0.75. The business has a fifty day simple moving average of $1,456.35 and a two-hundred day simple moving average of $1,418.81. Markel Group has a 12 month low of $1,186.56 and a 12 month high of $1,560.00.

Insider Activity at Markel Group

In related news, Director Lawrence A. Cunningham bought 25 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $1,460.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the director now directly owns 463 shares of the company’s stock, valued at approximately $675,980. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Markel Group news, Director Lawrence A. Cunningham purchased 25 shares of Markel Group stock in a transaction on Tuesday, August 29th. The shares were acquired at an average cost of $1,460.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the director now directly owns 463 shares of the company’s stock, valued at $675,980. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven A. Markel sold 350 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $1,471.12, for a total transaction of $514,892.00. Following the transaction, the director now owns 70,016 shares in the company, valued at $103,001,937.92. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 222 shares of company stock valued at $295,861 and have sold 1,048 shares valued at $1,544,641. 1.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Markel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its position in Markel Group by 72.7% during the second quarter. Asset Dedication LLC now owns 19 shares of the insurance provider’s stock valued at $26,000 after buying an additional 8 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in shares of Markel Group by 150.0% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 20 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 12 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Markel Group by 50.0% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 7 shares during the last quarter. Lee Financial Co purchased a new position in shares of Markel Group in the 2nd quarter worth about $30,000. Finally, Clearstead Advisors LLC purchased a new position in shares of Markel Group in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 76.96% of the company’s stock.

Analysts Set New Price Targets

MKL has been the topic of several recent analyst reports. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Jefferies Financial Group started 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. Royal Bank of Canada cut their price target on shares of Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Finally, Truist Financial cut their price target on shares of Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Markel Group has an average rating of “Moderate Buy” and an average target price of $1,531.25.

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.