PNC Financial Services Group Inc. Sells 1,130 Shares of Markel Group Inc. (NYSE:MKL)

PNC Financial Services Group Inc. cut its stake in Markel Group Inc. (NYSE:MKL) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,425 shares of the insurance provider’s stock after selling 1,130 shares during the period. PNC Financial Services Group Inc.’s holdings in Markel Group were worth $9,123,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Markel Group by 3.2% during the third quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock valued at $793,979,000 after buying an additional 16,597 shares during the last quarter. Boston Partners increased its stake in Markel Group by 400.1% in the 4th quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after purchasing an additional 125,507 shares during the period. Norges Bank bought a new stake in Markel Group in the fourth quarter valued at approximately $214,216,000. Mackenzie Financial Corp lifted its position in Markel Group by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 129,541 shares of the insurance provider’s stock valued at $183,935,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Scharf Investments LLC boosted its position in Markel Group by 4.0% during the 4th quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock valued at $180,214,000 after buying an additional 4,933 shares during the period. Institutional investors own 77.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MKL. Janney Montgomery Scott restated 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 downgraded shares of Markel Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. Truist Financial lifted their price target on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their price target on Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1,520.00.

Markel Group Price Performance

Shares of NYSE:MKL opened at $1,648.60 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 8.90 and a beta of 0.69. The firm has a fifty day moving average price of $1,526.73 and a 200 day moving average price of $1,462.73. Markel Group Inc. has a fifty-two week low of $1,295.65 and a fifty-two week high of $1,670.24.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). Markel Group had a net margin of 15.23% and a return on equity of 11.18%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.62 billion. As a group, sell-side analysts expect that Markel Group Inc. will post 83.47 earnings per share for the current fiscal year.

Markel Group Profile

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.