Ritholtz Wealth Management Sells 9 Shares of Markel Group Inc. (NYSE:MKL)

Ritholtz Wealth Management cut its holdings in Markel Group Inc. (NYSE:MKL) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 348 shares of the insurance provider’s stock after selling 9 shares during the quarter. Ritholtz Wealth Management’s holdings in Markel Group were worth $546,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Markel Group by 6.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 9,884 shares of the insurance provider’s stock valued at $15,574,000 after acquiring an additional 558 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Markel Group by 2.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider’s stock valued at $48,412,000 after purchasing an additional 888 shares in the last quarter. Solitude Financial Services bought a new position in Markel Group in the 2nd quarter worth approximately $1,182,000. Sei Investments Co. lifted its holdings in Markel Group by 41.7% during the 1st quarter. Sei Investments Co. now owns 4,308 shares of the insurance provider’s stock worth $6,554,000 after buying an additional 1,268 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Markel Group by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,336 shares of the insurance provider’s stock valued at $12,684,000 after buying an additional 359 shares during the last quarter. 77.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKL. Jefferies Financial Group boosted their target price on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup upped their target price on shares of Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, TD Cowen assumed coverage on shares of Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1,643.50.

Insider Buying and Selling

In other Markel Group news, Director Lawrence A. Cunningham purchased 20 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $1,512.50 per share, for a total transaction of $30,250.00. Following the completion of the acquisition, the director now directly owns 743 shares of the company’s stock, valued at $1,123,787.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.71% of the stock is currently owned by company insiders.

Markel Group Stock Performance

Shares of MKL stock opened at $1,562.27 on Wednesday. The stock has a market cap of $20.31 billion, a PE ratio of 8.44 and a beta of 0.73. The stock has a 50-day moving average of $1,559.35 and a 200-day moving average of $1,560.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a one year low of $1,295.65 and a one year 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, beating the consensus estimate of $20.76 by $5.19. The firm had revenue of $3.83 billion during 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, sell-side analysts expect that Markel Group Inc. will post 89.94 earnings per share for the current year.

Markel Group Company 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.