State of New Jersey Common Pension Fund D Cuts Stock Position in Markel Group Inc. (NYSE:MKL)

State of New Jersey Common Pension Fund D cut its holdings in Markel Group Inc. (NYSE:MKL) by 33.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,963 shares of the insurance provider’s stock after selling 2,497 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Markel Group were worth $7,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Markel Group in the second quarter valued at approximately $55,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Markel Group in the fourth quarter valued at approximately $57,000. GAMMA Investing LLC increased its position in shares of Markel Group by 90.0% in the first quarter. GAMMA Investing LLC now owns 38 shares of the insurance provider’s stock valued at $58,000 after buying an additional 18 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in shares of Markel Group in the first quarter valued at approximately $75,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Markel Group in the first quarter valued at approximately $81,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKL has been the subject of several research reports. Citigroup boosted their price target on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. TD Cowen initiated coverage on Markel Group in a research report on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1,626.83.

Markel Group Stock Up 1.1 %

NYSE MKL opened at $1,557.58 on Friday. The business’s fifty day simple moving average is $1,565.10 and its 200-day simple moving average is $1,550.22. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. The firm has a market cap of $20.16 billion, a PE ratio of 8.41 and a beta of 0.73. Markel Group Inc. has a 52 week low of $1,295.65 and a 52 week high of $1,670.24.

Markel Group (NYSE:MKL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $25.95 EPS for the quarter, topping analysts’ consensus estimates of $20.76 by $5.19. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.86 billion. Markel Group had a net margin of 13.00% and a return on equity of 11.12%. As a group, equities analysts anticipate that Markel Group Inc. will post 89.1 earnings per share for the current year.

Insider Activity

In other news, Director Lawrence A. Cunningham purchased 20 shares of Markel Group stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $1,512.50 per share, with a total value of $30,250.00. Following the transaction, the director now owns 743 shares in the company, valued at $1,123,787.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.71% of the company’s stock.

Markel Group 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.