Procyon Advisors LLC Has $2 Million Holdings in Markel Group Inc. (NYSE:MKL)

Procyon Advisors LLC lessened its holdings in Markel Group Inc. (NYSE:MKL) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,315 shares of the insurance provider’s stock after selling 25 shares during the quarter. Procyon Advisors LLC’s holdings in Markel Group were worth $2,001,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Markel Group in the fourth quarter valued at about $214,216,000. Boston Partners increased its position in shares of Markel Group by 400.1% during the 4th quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after purchasing an additional 125,507 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Markel Group during the 1st quarter worth approximately $133,143,000. Jennison Associates LLC boosted its holdings in shares of Markel Group by 111.3% in the 4th quarter. Jennison Associates LLC now owns 77,995 shares of the insurance provider’s stock valued at $110,745,000 after buying an additional 41,086 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new position in shares of Markel Group in the first quarter valued at $60,937,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Markel Group Stock Up 0.7 %

Markel Group stock opened at $1,580.90 on Friday. The company’s 50-day moving average price is $1,577.30 and its two-hundred day moving average price is $1,497.76. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.25. The stock has a market cap of $20.55 billion, a P/E ratio of 8.54 and a beta of 0.73. Markel Group Inc. has a twelve month low of $1,295.65 and a twelve month high of $1,670.24.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 earnings per share for the quarter, missing the consensus estimate of $18.50 by ($0.33). Markel Group had a return on equity of 11.18% and a net margin of 15.23%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.62 billion. As a group, analysts expect that Markel Group Inc. will post 82.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MKL shares. Royal Bank of Canada upped their price target on shares of Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Truist Financial raised their target price on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Janney Montgomery Scott restated a “neutral” rating and issued a $1,600.00 price objective on shares of Markel Group in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1,520.00.

Insider Transactions at Markel Group

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

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.