Markel Group Inc. $MKL Shares Sold by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management reduced its Markel Group stake by 0.8%, selling 689 shares and retaining 86,571 shares worth approximately $148.2 million. Institutional investors collectively own 77.12% of Markel’s stock.
• Markel shares rose 2.2% to $1,765.68, but remain below their 50-day and 200-day moving averages and well below the 52-week high of $2,207.59.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating despite a $2,025 average price target.

Fenimore Asset Management Inc trimmed its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,571 shares of the insurance provider's stock after selling 689 shares during the period. Markel Group accounts for 3.2% of Fenimore Asset Management Inc's holdings, making the stock its 10th biggest position. Fenimore Asset Management Inc owned about 0.70% of Markel Group worth $148,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. CHICAGO TRUST Co NA increased its stake in Markel Group by 5.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 113 shares of the insurance provider's stock worth $216,000 after buying an additional 6 shares in the last quarter. Heartwood Wealth Advisors LLC lifted its position in shares of Markel Group by 2.7% in the third quarter. Heartwood Wealth Advisors LLC now owns 226 shares of the insurance provider's stock valued at $387,000 after acquiring an additional 6 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Markel Group by 6.6% in the third quarter. Valeo Financial Advisors LLC now owns 130 shares of the insurance provider's stock valued at $223,000 after acquiring an additional 8 shares in the last quarter. Sterling Investment Counsel LLC boosted its stake in shares of Markel Group by 8.6% in the first quarter. Sterling Investment Counsel LLC now owns 114 shares of the insurance provider's stock worth $218,000 after acquiring an additional 9 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Markel Group by 0.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,080 shares of the insurance provider's stock worth $2,322,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Trading Up 2.2%

Markel Group stock traded up $37.48 during mid-day trading on Thursday, hitting $1,765.68. The company's stock had a trading volume of 68,989 shares, compared to its average volume of 64,687. The stock's fifty day moving average is $1,800.46 and its two-hundred day moving average is $1,861.89. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $21.88 billion, a PE ratio of 9.71 and a beta of 0.64. Markel Group Inc. has a 1 year low of $1,704.17 and a 1 year high of $2,207.59.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKL. Wall Street Zen raised Markel Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Wolfe Research initiated coverage on shares of Markel Group in a research note on Wednesday, July 1st. They set an "underperform" rating on the stock. Finally, Weiss Ratings lowered shares of Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 17th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $2,025.00.

About Markel Group

Markel Group Inc NYSE: MKL is a diversified holding company focused primarily on specialty insurance and investments. Through its insurance operations, the company provides coverage for risks that may be complex, specialized or underserved by standard insurance markets, including commercial, professional liability, marine, casualty and other specialty lines.

Markel's insurance business operates through a network of underwriting platforms and subsidiaries serving businesses and individuals in the United States and international markets, including the United Kingdom, Europe, Canada and other regions.

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