Pinnacle Associates Ltd. Sells 1,722 Shares of Markel Group Inc. (NYSE:MKL)

Pinnacle Associates Ltd. decreased its position in Markel Group Inc. (NYSE:MKL) by 8.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,656 shares of the insurance provider’s stock after selling 1,722 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.14% of Markel Group worth $27,695,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Davis Selected Advisers increased its position in Markel Group by 0.3% in the second quarter. Davis Selected Advisers now owns 287,061 shares of the insurance provider’s stock worth $452,311,000 after buying an additional 970 shares in the last quarter. Boston Partners increased its holdings in Markel Group by 36.7% in the 1st quarter. Boston Partners now owns 214,400 shares of the insurance provider’s stock worth $326,124,000 after acquiring an additional 57,528 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Markel Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 113,556 shares of the insurance provider’s stock valued at $178,931,000 after purchasing an additional 5,310 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Markel Group by 4.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 85,464 shares of the insurance provider’s stock worth $129,441,000 after purchasing an additional 3,560 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Markel Group by 15.4% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 85,247 shares of the insurance provider’s stock worth $134,320,000 after purchasing an additional 11,357 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Markel Group Price Performance

Markel Group stock traded up $2.88 during mid-day trading on Wednesday, reaching $1,567.33. 24,139 shares of the company’s stock traded hands, compared to its average volume of 42,011. Markel Group Inc. has a 12-month low of $1,295.65 and a 12-month high of $1,670.24. 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 stock has a 50 day moving average of $1,568.69 and a two-hundred day moving average of $1,566.64. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 8.45 and a beta of 0.73.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $20.76 by $5.19. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Markel Group had a net margin of 13.00% and a return on equity of 11.12%. Equities analysts forecast that Markel Group Inc. will post 91.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MKL. TD Cowen initiated coverage on shares of Markel Group in a research note on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 target price on the stock. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Citigroup increased their target price 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. Finally, Jefferies Financial Group increased their price objective on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,643.50.

Insiders Place Their Bets

In related news, Director Lawrence A. Cunningham bought 20 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $1,512.50 per share, for a total transaction of $30,250.00. Following the acquisition, the director now owns 743 shares in the company, valued at $1,123,787.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.71% of the stock is currently owned by 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.