Tidal Investments LLC Raises Stock Position in Markel Group Inc. (NYSE:MKL)

Tidal Investments LLC increased its stake in Markel Group Inc. (NYSE:MKL) by 26.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,867 shares of the insurance provider’s stock after buying an additional 393 shares during the period. Tidal Investments LLC’s holdings in Markel Group were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKL. Norges Bank bought a new position in Markel Group in the fourth quarter worth approximately $214,216,000. Boston Partners raised its position in Markel Group by 400.1% in the fourth quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after acquiring an additional 125,507 shares during the period. Global Assets Advisory LLC bought a new position in Markel Group in the first quarter worth approximately $133,143,000. Jennison Associates LLC raised its position in Markel Group by 111.3% in the fourth quarter. Jennison Associates LLC now owns 77,995 shares of the insurance provider’s stock worth $110,745,000 after acquiring an additional 41,086 shares during the period. Finally, Confluence Investment Management LLC bought a new position in Markel Group in the first quarter worth approximately $60,937,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Citigroup raised their price objective 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. Truist Financial raised their price objective on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, TD Cowen began coverage on shares of Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1,626.83.

Markel Group Price Performance

Shares of NYSE:MKL traded down $80.06 on Thursday, reaching $1,558.79. The company’s stock had a trading volume of 20,594 shares, compared to its average volume of 44,901. Markel Group Inc. has a 52-week low of $1,295.65 and a 52-week high of $1,670.24. The company has a market cap of $20.26 billion, a P/E ratio of 8.85 and a beta of 0.73. The company has a 50-day simple moving average of $1,585.77 and a 200 day simple moving average of $1,527.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). Markel Group had a return on equity of 11.18% and a net margin of 15.23%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.62 billion. As a group, equities research analysts anticipate that Markel Group Inc. will post 82.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 122 shares of Markel Group stock in a transaction on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total value of $197,741.26. Following the completion of the transaction, the director now directly owns 634 shares of the company’s stock, valued at approximately $1,027,606.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Steven A. Markel sold 3,000 shares of Markel Group stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $109,228,184.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greta J. Harris sold 122 shares of Markel Group stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the transaction, the director now directly owns 634 shares of the company’s stock, valued at $1,027,606.22. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

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.