State of New Jersey Common Pension Fund D Sells 171 Shares of Markel Group Inc. $MKL

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Markel Group Inc. by 3.8%, retaining 4,275 shares valued at approximately $7,993,000.
• Markel Group reported earnings of $25.46 per share for the last quarter, exceeding analysts' expectations and reflecting a 24.3% year-over-year revenue increase to $4.82 billion.
• Argus upgraded Markel Group's stock from a "hold" to a "buy" rating, with a consensus price target of $1,820.33 as four analysts have rated it as a hold and one as a buy.

State of New Jersey Common Pension Fund D decreased its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,275 shares of the insurance provider's stock after selling 171 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Markel Group were worth $7,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new stake in Markel Group during the 1st quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC boosted its position in Markel Group by 183.3% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock worth $32,000 after buying an additional 11 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Markel Group during the 1st quarter worth approximately $32,000. ST Germain D J Co. Inc. boosted its position in Markel Group by 300.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock worth $37,000 after buying an additional 15 shares during the period. Finally, McIlrath & Eck LLC boosted its position in Markel Group by 866.7% during the 4th quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock worth $50,000 after buying an additional 26 shares during the period. Institutional investors own 77.12% of the company's stock.

Markel Group Trading Up 1.2%

Shares of NYSE MKL traded up $24.1730 during midday trading on Friday, reaching $1,993.5630. The stock had a trading volume of 37,991 shares, compared to its average volume of 46,921. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. Markel Group Inc. has a twelve month low of $1,494.00 and a twelve month high of $2,075.92. The company's 50 day moving average price is $1,976.11 and its 200 day moving average price is $1,902.16. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 11.96 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last released its 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. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company earned $18.62 EPS. Markel Group's quarterly revenue was up 24.3% compared to the same quarter last year. As a group, sell-side analysts expect that Markel Group Inc. will post 96.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Markel Group currently has an average rating of "Hold" and an average target price of $1,820.33.

Markel Group Company 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.