Bank of Nova Scotia Cuts Stake in Markel Group Inc. (NYSE:MKL)

Bank of Nova Scotia lowered its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 662 shares of the insurance provider's stock after selling 193 shares during the period. Bank of Nova Scotia's holdings in Markel Group were worth $1,143,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Markel Group in the fourth quarter valued at about $36,000. FPC Investment Advisory Inc. acquired a new position in Markel Group during the 4th quarter worth approximately $37,000. Global Trust Asset Management LLC acquired a new stake in shares of Markel Group in the 4th quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB acquired a new position in Markel Group during the third quarter worth $42,000. Finally, Private Trust Co. NA raised its position in Markel Group by 23.1% in the fourth quarter. Private Trust Co. NA now owns 32 shares of the insurance provider's stock worth $55,000 after acquiring an additional 6 shares in the last quarter. 77.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MKL shares. StockNews.com cut shares of Markel Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada lifted their price target on shares of Markel Group from $1,750.00 to $2,025.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Markel Group presently has a consensus rating of "Hold" and a consensus target price of $1,702.20.

Markel Group Price Performance

Markel Group stock traded up $4.21 during mid-day trading on Friday, hitting $1,767.46. 223,077 shares of the company were exchanged, compared to its average volume of 48,824. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a 12-month low of $1,420.04 and a 12-month high of $2,063.68. The business's 50 day simple moving average is $1,839.25 and its two-hundred day simple moving average is $1,749.97. The company has a market capitalization of $22.47 billion, a P/E ratio of 8.88 and a beta of 0.70.

Markel Group (NYSE:MKL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a return on equity of 7.55% and a net margin of 16.34%. Analysts forecast that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Markel Group news, Director Steven A. Markel sold 1,146 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the completion of the sale, the director now owns 63,722 shares of the company's stock, valued at approximately $118,426,699.78. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of the business's stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $2,008.01 per share, for a total transaction of $200,801.00. Following the completion of the acquisition, the chief executive officer now owns 48,945 shares in the company, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 2,034 shares of company stock valued at $3,778,952 in the last quarter. 1.66% of the stock is currently owned by company insiders.

About Markel Group

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.