Raymond James Financial Services Advisors Inc. Decreases Stake in Markel Group Inc. (NYSE:MKL)

Raymond James Financial Services Advisors Inc. reduced its position in Markel Group Inc. (NYSE:MKL) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,936 shares of the insurance provider’s stock after selling 3,081 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.17% of Markel Group worth $31,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its position in Markel Group by 72.7% in the 2nd quarter. Asset Dedication LLC now owns 19 shares of the insurance provider’s stock valued at $26,000 after buying an additional 8 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Markel Group by 150.0% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 20 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 12 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Markel Group in the 2nd quarter valued at about $39,000. Achmea Investment Management B.V. acquired a new stake in shares of Markel Group in the 1st quarter valued at about $41,000. Finally, RVW Wealth LLC acquired a new stake in shares of Markel Group in the 3rd quarter valued at about $47,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Price Performance

NYSE MKL opened at $1,527.36 on Thursday. Markel Group Inc. has a 52 week low of $1,226.30 and a 52 week high of $1,560.00. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 10.39 and a beta of 0.70. The company has a 50-day moving average price of $1,474.06 and a two-hundred day moving average price of $1,448.52.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $56.48 EPS for the quarter, topping the consensus estimate of $23.58 by $32.90. Markel Group had a net margin of 12.63% and a return on equity of 11.22%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Analysts forecast that Markel Group Inc. will post 82.15 EPS for the current year.

Analysts Set New Price Targets

MKL has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of Markel Group from a “buy” rating to a “hold” rating and cut their target price for the company from $1,680.00 to $1,500.00 in a research note on Monday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $1,475.00 target price on shares of Markel Group in a research note on Friday, February 2nd. Finally, Janney Montgomery Scott restated a “neutral” rating and issued a $1,600.00 target price 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 assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Markel Group currently has an average rating of “Hold” and a consensus price target of $1,450.00.

Insiders Place Their Bets

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $1,414.74 per share, for a total transaction of $141,474.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,039 shares of the company’s stock, valued at approximately $63,718,474.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $1,414.74 per share, for a total transaction of $141,474.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,039 shares of the company’s stock, valued at approximately $63,718,474.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A. Lynne Puckett acquired 72 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was bought at an average price of $1,409.28 per share, with a total value of $101,468.16. Following the completion of the acquisition, the director now directly owns 960 shares of the company’s stock, valued at $1,352,908.80. The disclosure for this purchase can be found here. 1.75% of the stock is owned by insiders.

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.