Alta Capital Management LLC Decreases Stock Position in Markel Group Inc. $MKL

Key Points

• Alta Capital Management reduced its Markel Group stake by 32.2% in the fourth quarter, selling 894 shares and leaving it with 1,885 shares valued at about $4.05 million.
• Analyst sentiment on Markel Group (NYSE: MKL) has softened, with several firms cutting ratings or price targets; the stock now carries a consensus Hold and an average price target of $2,025.
• Markel reported weaker-than-expected quarterly results, posting EPS of -$18.90 versus estimates of $26.38 and revenue of $2.82 billion versus $3.66 billion expected.

Alta Capital Management LLC cut its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,885 shares of the insurance provider's stock after selling 894 shares during the quarter. Alta Capital Management LLC's holdings in Markel Group were worth $4,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Canerector Inc. raised its stake in Markel Group by 191,036.0% in the third quarter. Canerector Inc. now owns 10,703,616 shares of the insurance provider's stock valued at $20,458,463,000 after buying an additional 10,698,016 shares during the last quarter. Vanguard Group Inc. raised its stake in Markel Group by 0.4% in the third quarter. Vanguard Group Inc. now owns 1,172,997 shares of the insurance provider's stock valued at $2,242,020,000 after buying an additional 5,184 shares during the last quarter. Principal Financial Group Inc. raised its stake in Markel Group by 1.8% in the third quarter. Principal Financial Group Inc. now owns 547,188 shares of the insurance provider's stock valued at $1,045,947,000 after buying an additional 9,496 shares during the last quarter. Davis Selected Advisers raised its stake in Markel Group by 11.1% in the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider's stock valued at $892,496,000 after buying an additional 41,632 shares during the last quarter. Finally, Select Equity Group L.P. raised its stake in Markel Group by 75.9% in the second quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider's stock valued at $671,850,000 after buying an additional 145,146 shares during the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MKL. Wall Street Zen lowered Markel Group from a "buy" rating to a "sell" rating in a report on Saturday, May 2nd. Truist Financial cut their price objective on Markel Group from $2,100.00 to $1,950.00 and set a "hold" rating on the stock in a report on Thursday, April 30th. Brean Capital began coverage on Markel Group in a report on Tuesday, March 24th. They issued a "neutral" rating and a $2,100.00 price objective on the stock. Zacks Research lowered Markel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. Finally, Weiss Ratings lowered Markel Group from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2,025.00.

Markel Group Stock Up 1.2%

Markel Group stock opened at $1,866.01 on Tuesday. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 13.45 and a beta of 0.67. Markel Group Inc. has a 52 week low of $1,719.41 and a 52 week high of $2,207.59. The business's 50-day moving average price is $1,901.17 and its 200 day moving average price is $2,014.99. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.24.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) EPS for the quarter, missing the consensus estimate of $26.38 by ($45.28). The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $3.66 billion. Markel Group had a return on equity of 7.90% and a net margin of 10.85%. As a group, sell-side analysts anticipate that Markel Group Inc. will post 113.02 earnings per share for the current year.

Insider Activity

In related news, CEO Simon Wilson sold 100 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $2,079.48, for a total transaction of $207,948.00. Following the sale, the chief executive officer directly owned 2,397 shares of the company's stock, valued at $4,984,513.56. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Leopold bought 50 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average cost of $1,789.19 per share, for a total transaction of $89,459.50. Following the completion of the acquisition, the director owned 550 shares of the company's stock, valued at $984,054.50. This trade represents a 10.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.08% of the stock is owned by company insiders.

Markel Group Company Profile

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.

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