Tredje AP fonden Cuts Position in Markel Group Inc. $MKL

Key Points

• Tredje AP fonden reduced its Markel Group stake by 34.9% in the fourth quarter, selling 646 shares and leaving it with 1,206 shares valued at about $2.59 million.
• Markel Group reported a big earnings miss for the quarter ended April 28, posting loss-adjusted EPS of -$18.90 versus expectations for $26.38, while revenue of $2.82 billion also fell short of estimates.
• Sentiment around the stock looks mixed: one analyst rates it a Buy while five call it Hold, and the average price target is about $2,025. Meanwhile, insider activity was split, with CEO Simon Wilson selling shares earlier and Director Diane Leopold buying shares in May.

Tredje AP fonden lessened its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,206 shares of the insurance provider's stock after selling 646 shares during the quarter. Tredje AP fonden's holdings in Markel Group were worth $2,592,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Markel Group by 38.6% during the fourth quarter. Larson Financial Group LLC now owns 61 shares of the insurance provider's stock valued at $131,000 after buying an additional 17 shares during the last quarter. Evergreen Wealth Management LLC grew its holdings in shares of Markel Group by 2.0% during the fourth quarter. Evergreen Wealth Management LLC now owns 3,616 shares of the insurance provider's stock valued at $7,773,000 after buying an additional 72 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new stake in shares of Markel Group during the fourth quarter valued at approximately $219,000. Passumpsic Savings Bank purchased a new stake in shares of Markel Group during the fourth quarter valued at approximately $260,000. Finally, North Dakota State Investment Board purchased a new stake in shares of Markel Group during the fourth quarter valued at approximately $944,000. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Trading Up 0.1%

Shares of MKL stock opened at $1,861.53 on Thursday. Markel Group Inc. has a 12-month low of $1,719.41 and a 12-month high of $2,207.59. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The firm's 50 day moving average is $1,896.72 and its 200 day moving average is $2,014.72. The stock has a market capitalization of $23.29 billion, a P/E ratio of 13.41 and a beta of 0.67.

Markel Group (NYSE:MKL - Get Free Report) last issued its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The company had revenue of $2.82 billion during the quarter, compared to analysts' expectations of $3.66 billion. Research analysts expect that Markel Group Inc. will post 111.93 earnings per share for the current year.

Insider Activity at Markel Group

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on MKL shares. Wall Street Zen cut shares of Markel Group from a "buy" rating to a "sell" rating in a report on Saturday, May 2nd. Brean Capital started coverage on shares of Markel Group in a report on Tuesday, March 24th. They set a "neutral" rating and a $2,100.00 price target on the stock. Weiss Ratings cut shares of Markel Group from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Finally, Truist Financial cut their price target on shares of 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. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2,025.00.

Markel Group 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.

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.