Waverly Advisors LLC Sells 917 Shares of Markel Group Inc. $MKL

Key Points

• Waverly Advisors LLC cut its Markel Group stake by 51.7% in the second quarter, selling 917 shares and retaining 855 shares valued at approximately $1.67 million.
• Other institutional investors adjusted their positions, including JANA Partners increasing its stake and several firms initiating new holdings. Institutional investors collectively own 77.12% of Markel’s stock.
• Markel shares opened at $1,784.51, below their 50-day and 200-day moving averages. Analysts hold a consensus “Hold” rating, with an average price target of $2,025.

Waverly Advisors LLC decreased its position in Markel Group Inc. (NYSE:MKL - Free Report) by 51.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 855 shares of the insurance provider's stock after selling 917 shares during the period. Waverly Advisors LLC's holdings in Markel Group were worth $1,670,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. JANA Partners Management LP raised its stake in shares of Markel Group by 1.9% during the 2nd quarter. JANA Partners Management LP now owns 76,743 shares of the insurance provider's stock worth $149,880,000 after purchasing an additional 1,436 shares during the period. Bank of New York Mellon Corp bought a new position in Markel Group during the second quarter valued at about $68,051,000. Quantbot Technologies LP bought a new position in Markel Group during the second quarter valued at about $5,486,000. Axxcess Wealth Management LLC increased its holdings in Markel Group by 77.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,552 shares of the insurance provider's stock worth $3,336,000 after buying an additional 679 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Markel Group in the second quarter worth about $2,340,000. Institutional investors own 77.12% of the company's stock.

Markel Group Stock Performance

Shares of MKL opened at $1,784.51 on Monday. The stock's 50-day simple moving average is $1,879.43 and its 200 day simple moving average is $1,892.70. The stock has a market capitalization of $22.11 billion, a price-to-earnings ratio of 9.81 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.63. Markel Group Inc. has a 52-week low of $1,719.41 and a 52-week high of $2,207.59.

Analysts Set New Price Targets

A number of research firms have weighed in on MKL. Weiss Ratings upgraded shares of Markel Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Wall Street Zen raised shares of Markel Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Wolfe Research initiated coverage on Markel Group in a research note on Wednesday, July 1st. They issued an "underperform" rating on the stock. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2,025.00.

Markel Group Company Profile

Markel Group Inc is a diversified financial holding company headquartered in Glen Allen, Virginia. Its principal business is specialty insurance, including commercial and personal lines, excess and surplus lines, professional liability, marine, workers' compensation, and other niche coverage. The company also provides reinsurance and insurance-related services through subsidiaries and underwriting platforms.

Markel serves customers and business partners in the United States and international markets, including the United Kingdom, Europe, Canada, Asia-Pacific and other regions.

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