OLD National Bancorp IN Trims Holdings in Markel Group Inc. (NYSE:MKL)

OLD National Bancorp IN trimmed its position in Markel Group Inc. (NYSE:MKL) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278 shares of the insurance provider’s stock after selling 73 shares during the quarter. OLD National Bancorp IN’s holdings in Markel Group were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Morgan Stanley raised its stake in shares of Markel Group by 3.2% in the third quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock worth $793,979,000 after purchasing an additional 16,597 shares during the last quarter. Mackenzie Financial Corp raised its position in Markel Group by 2.8% during the fourth quarter. Mackenzie Financial Corp now owns 129,541 shares of the insurance provider’s stock valued at $183,935,000 after acquiring an additional 3,476 shares in the last quarter. Scharf Investments LLC raised its position in Markel Group by 4.0% during the fourth quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock valued at $180,214,000 after acquiring an additional 4,933 shares in the last quarter. Legal & General Group Plc raised its position in Markel Group by 3.0% during the third quarter. Legal & General Group Plc now owns 94,781 shares of the insurance provider’s stock valued at $139,564,000 after acquiring an additional 2,736 shares in the last quarter. Finally, Northern Trust Corp raised its position in Markel Group by 2.2% during the third quarter. Northern Trust Corp now owns 88,501 shares of the insurance provider’s stock valued at $130,317,000 after acquiring an additional 1,929 shares in the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 price objective on shares of Markel Group in a report on Friday, March 15th. Jefferies Financial Group lowered Markel Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $1,680.00 to $1,500.00 in a research note on Monday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $1,475.00 target price on shares of Markel Group in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1,450.00.

Insider Buying and Selling at Markel Group

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of Markel Group stock in a transaction on Friday, February 2nd. The shares were bought at an average price of $1,414.74 per share, for a total transaction of $141,474.00. Following the completion of the purchase, the chief executive officer now directly owns 45,039 shares in the company, valued at approximately $63,718,474.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director A. Lynne Puckett acquired 72 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average cost of $1,409.28 per share, with a total value of $101,468.16. Following the completion of the acquisition, the director now directly owns 960 shares in the company, valued at $1,352,908.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average cost of $1,414.74 per share, with a total value of $141,474.00. Following the completion of the acquisition, the chief executive officer now owns 45,039 shares of the company’s stock, valued at $63,718,474.86. The disclosure for this purchase can be found here. 1.71% of the stock is owned by company insiders.

Markel Group Stock Performance

NYSE MKL opened at $1,463.11 on Thursday. Markel Group Inc. has a 1-year low of $1,272.43 and a 1-year high of $1,560.00. The company has a market capitalization of $19.08 billion, a P/E ratio of 9.96 and a beta of 0.70. The business has a 50 day moving average price of $1,484.62 and a 200 day moving average price of $1,444.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.62.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, January 31st. The insurance provider reported $56.48 EPS for the quarter, beating analysts’ consensus estimates of $23.58 by $32.90. Markel Group had a return on equity of 11.22% and a net margin of 12.63%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Sell-side analysts expect that Markel Group Inc. will post 80.08 EPS for the current fiscal year.

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.