Heritage Wealth Advisors Lowers Stock Holdings in Markel Group Inc. (NYSE:MKL)

Key Points

• Heritage Wealth Advisors reduced its stake in Markel Group Inc. by 15.9% in the first quarter, holding 6,072 shares valued at approximately $11.35 million.
• Several large investors, including Sierra Ocean LLC and ST Germain D J Co. Inc., have also adjusted their positions in Markel Group, indicating increased interest from institutional investors.
• Markel Group reported earnings of $25.46 per share for the last quarter, surpassing estimates and marking a 24.3% revenue increase compared to the previous year.

Heritage Wealth Advisors trimmed its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072 shares of the insurance provider's stock after selling 1,148 shares during the quarter. Heritage Wealth Advisors' holdings in Markel Group were worth $11,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commerce Bank grew its position in shares of Markel Group by 7.9% during the 1st quarter. Commerce Bank now owns 1,010 shares of the insurance provider's stock valued at $1,888,000 after acquiring an additional 74 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Markel Group by 21.3% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 307 shares of the insurance provider's stock worth $574,000 after purchasing an additional 54 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Markel Group by 4,533.3% during the first quarter. Harbour Investments Inc. now owns 278 shares of the insurance provider's stock valued at $520,000 after purchasing an additional 272 shares in the last quarter. Inlet Private Wealth LLC boosted its position in Markel Group by 21.9% during the first quarter. Inlet Private Wealth LLC now owns 306 shares of the insurance provider's stock valued at $572,000 after purchasing an additional 55 shares in the last quarter. Finally, First National Advisers LLC grew its position in shares of Markel Group by 30.5% in the 1st quarter. First National Advisers LLC now owns 1,642 shares of the insurance provider's stock worth $3,070,000 after buying an additional 384 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Greta J. Harris sold 90 shares of Markel Group stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the sale, the director owned 632 shares of the company's stock, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Argus raised shares of Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $1,820.33.

Markel Group Price Performance

NYSE:MKL traded down $0.45 during trading hours on Tuesday, hitting $1,945.97. 25,401 shares of the stock were exchanged, compared to its average volume of 58,240. The firm's fifty day moving average price is $1,971.98 and its 200 day moving average price is $1,889.69. Markel Group Inc. has a 52-week low of $1,491.03 and a 52-week high of $2,075.92. The company has a market cap of $24.62 billion, a P/E ratio of 11.69 and a beta of 0.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%. The business's revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the business earned $18.62 earnings per share. As a group, equities research analysts anticipate that Markel Group Inc. will post 96.25 EPS 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.