Cooke & Bieler LP Decreases Stake in Markel Group Inc. (NYSE:MKL)

Cooke & Bieler LP cut its holdings in shares of Markel Group Inc. (NYSE:MKL) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,465 shares of the insurance provider’s stock after selling 65 shares during the period. Cooke & Bieler LP owned 0.44% of Markel Group worth $90,545,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC purchased a new position in shares of Markel Group during the second quarter valued at approximately $306,000. Versor Investments LP purchased a new position in shares of Markel Group during the second quarter valued at approximately $348,000. CIBC Asset Management Inc increased its stake in shares of Markel Group by 2.5% during the second quarter. CIBC Asset Management Inc now owns 446 shares of the insurance provider’s stock valued at $703,000 after buying an additional 11 shares during the period. Mraz Amerine & Associates Inc. increased its stake in shares of Markel Group by 1.1% during the second quarter. Mraz Amerine & Associates Inc. now owns 18,453 shares of the insurance provider’s stock valued at $29,076,000 after buying an additional 201 shares during the period. Finally, Resonant Capital Advisors LLC increased its stake in shares of Markel Group by 7.4% during the second quarter. Resonant Capital Advisors LLC now owns 641 shares of the insurance provider’s stock valued at $1,010,000 after buying an additional 44 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Price Performance

Markel Group stock traded down $2.57 during mid-day trading on Wednesday, reaching $1,572.62. 6,002 shares of the company’s stock traded hands, compared to its average volume of 43,200. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 8.48 and a beta of 0.73. The stock has a 50 day moving average of $1,567.87 and a two-hundred day moving average of $1,546.02. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. Markel Group Inc. has a 12-month low of $1,295.65 and a 12-month high of $1,670.24.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Markel Group Inc. will post 89.05 earnings per share for the current year.

Insider Activity

In related news, Director Lawrence A. Cunningham purchased 20 shares of Markel Group stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $1,512.50 per share, with a total value of $30,250.00. Following the purchase, the director now directly owns 743 shares of the company’s stock, valued at approximately $1,123,787.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MKL shares. TD Cowen assumed coverage on 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. Citigroup increased their price objective on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1,626.83.

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.