Markel Group Inc. $MKL Stock Sold by Steginsky Capital LLC

Key Points

• Steginsky Capital reduced its Markel Group stake by 2.4% in the third quarter, selling 1,075 shares and retaining 44,331 shares valued at approximately $75.9 million. Markel remains 12.4% of the firm’s portfolio and its fourth-largest holding.
• Institutional ownership remains significant at 77.12%, with major investors including BlackRock, Bank of America, Davis Asset Management, Legal & General, and Bank of New York Mellon establishing or adding positions.
• Markel shares recently traded at $1,734.34, near their one-year low, while analysts hold a consensus “Reduce” rating and an average price target of $2,025.

Steginsky Capital LLC reduced its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,331 shares of the insurance provider's stock after selling 1,075 shares during the period. Markel Group accounts for 12.4% of Steginsky Capital LLC's holdings, making the stock its 4th biggest holding. Steginsky Capital LLC owned about 0.36% of Markel Group worth $75,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Markel Group in the second quarter valued at approximately $1,362,880,000. Bank of America Corp DE bought a new stake in Markel Group during the 2nd quarter valued at $231,608,000. Davis Asset Management L.P. bought a new stake in Markel Group during the 2nd quarter valued at $179,882,000. Legal & General Group Plc purchased a new stake in shares of Markel Group in the 2nd quarter worth $122,219,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Markel Group during the 2nd quarter worth $68,051,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Markel Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 17th. Finally, Wolfe Research started coverage on shares of Markel Group in a research report on Wednesday, July 1st. They issued an "underperform" rating for the company. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Markel Group has a consensus rating of "Reduce" and an average target price of $2,025.00.

Markel Group Stock Down 0.2%

Shares of NYSE MKL traded down $4.00 during mid-day trading on Wednesday, reaching $1,734.34. 29,718 shares of the company were exchanged, compared to its average volume of 64,357. Markel Group Inc. has a 1 year low of $1,704.17 and a 1 year high of $2,207.59. The firm has a 50-day moving average of $1,806.34 and a 200 day moving average of $1,862.99. The stock has a market cap of $21.49 billion, a price-to-earnings ratio of 9.54 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.23.

Markel Group Company Profile

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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