Bank of New York Mellon Corp lowered its holdings in Markel Group Inc. (NYSE:MKL – Free Report) by 6.6% in the 1st quarter, HoldingsChannel reports. The firm owned 36,490 shares of the insurance provider’s stock after selling 2,572 shares during the quarter. Bank of New York Mellon Corp’s holdings in Markel Group were worth $69,845,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Valley National Advisers Inc. bought a new position in shares of Markel Group during the fourth quarter valued at approximately $25,000. Fideuram Asset Management Ireland dac bought a new position in Markel Group in the fourth quarter worth approximately $26,000. Reflection Asset Management purchased a new stake in Markel Group during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Markel Group during the third quarter worth $29,000. Finally, V Square Quantitative Management LLC bought a new stake in Markel Group during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.
Insider Buying and Selling at Markel Group
In other Markel Group news, Director Greta J. Harris sold 76 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total value of $140,395.56. Following the completion of the transaction, the director owned 645 shares of the company’s stock, valued at approximately $1,191,514.95. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diane Leopold acquired 100 shares of the stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $1,792.61 per share, with a total value of $179,261.00. Following the completion of the purchase, the director directly owned 2,190 shares of the company’s stock, valued at approximately $3,925,815.90. This trade represents a 4.78% increase in their position. The SEC filing for this purchase provides additional information. 1.08% of the stock is owned by insiders.
Markel Group Price Performance
Markel Group (NYSE:MKL – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.66 billion. Markel Group had a return on equity of 7.90% and a net margin of 10.85%. Analysts forecast that Markel Group Inc. will post 114.11 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on MKL shares. Wolfe Research started coverage on Markel Group in a report on Wednesday, July 1st. They issued an “underperform” rating on the stock. Truist Financial decreased their price objective on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Weiss Ratings downgraded Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered Markel Group from a “buy” rating to a “sell” rating in a research note on Saturday, May 2nd. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $2,025.00.
Check Out Our Latest Report on Markel Group
Markel Group Company Profile
Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.
In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.
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