OLD National Bancorp IN Sells 73 Shares of Markel Group Inc. (NYSE:MKL)

OLD National Bancorp IN reduced its stake in Markel Group Inc. (NYSE:MKL) by 20.8% during the 4th quarter, HoldingsChannel reports. The fund owned 278 shares of the insurance provider’s stock after selling 73 shares during the quarter. OLD National Bancorp IN’s holdings in Markel Group were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MKL. Ritholtz Wealth Management bought a new stake in Markel Group in the 3rd quarter valued at $343,000. SG Americas Securities LLC lifted its position in Markel Group by 1,685.1% in the 3rd quarter. SG Americas Securities LLC now owns 1,678 shares of the insurance provider’s stock valued at $2,471,000 after acquiring an additional 1,584 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Markel Group by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,368 shares of the insurance provider’s stock valued at $3,486,000 after buying an additional 10 shares during the last quarter. Goldstein Advisors LLC acquired a new stake in Markel Group in the 3rd quarter valued at $200,000. Finally, Oak Thistle LLC acquired a new stake in Markel Group in the 3rd quarter valued at $1,231,000. 77.12% of the stock is owned by institutional investors.

Markel Group Stock Down 1.1 %

Markel Group stock opened at $1,463.11 on Thursday. The firm has a market capitalization of $19.08 billion, a PE ratio of 9.96 and a beta of 0.70. The company’s 50-day moving average is $1,484.62 and its 200-day moving average is $1,444.97. Markel Group Inc. has a fifty-two week low of $1,272.43 and a fifty-two week high of $1,560.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.62.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $56.48 EPS for the quarter, beating analysts’ consensus estimates of $23.58 by $32.90. Markel Group had a net margin of 12.63% and a return on equity of 11.22%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.75 billion. Sell-side analysts anticipate that Markel Group Inc. will post 80.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MKL has been the topic of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $1,475.00 price target on shares of Markel Group in a research note on Friday, February 2nd. Janney Montgomery Scott reiterated a “neutral” rating and issued a $1,600.00 price target on shares of Markel Group in a research note on Friday, March 15th. Finally, Jefferies Financial Group lowered shares of Markel Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $1,680.00 to $1,500.00 in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Markel Group currently has a consensus rating of “Hold” and a consensus target price of $1,450.00.

Insider Activity at Markel Group

In related news, Director A. Lynne Puckett purchased 72 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average price of $1,409.28 per share, for a total transaction of $101,468.16. Following the purchase, the director now owns 960 shares in the company, valued at $1,352,908.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director A. Lynne Puckett purchased 72 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average price of $1,409.28 per share, for a total transaction of $101,468.16. Following the purchase, the director now owns 960 shares in the company, valued at $1,352,908.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $1,414.74 per share, with a total value of $141,474.00. Following the acquisition, the chief executive officer now directly owns 45,039 shares in the company, valued at $63,718,474.86. The disclosure for this purchase can be found here. 1.71% of the stock is owned by company insiders.

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.