CIBC Asset Management Inc Sells 156 Shares of Markel Group Inc. (NYSE:MKL)

CIBC Asset Management Inc cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 434 shares of the insurance provider’s stock after selling 156 shares during the quarter. CIBC Asset Management Inc’s holdings in Markel Group were worth $616,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKL. Morgan Stanley increased its position in shares of Markel Group by 3.2% during the 3rd quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock worth $793,979,000 after purchasing an additional 16,597 shares in the last quarter. Boston Partners raised its stake in shares of Markel Group by 400.1% in the fourth quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock valued at $222,771,000 after acquiring an additional 125,507 shares during the last quarter. Norges Bank acquired a new position in shares of Markel Group in the 4th quarter worth approximately $214,216,000. Mackenzie Financial Corp grew its position in Markel Group by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 129,541 shares of the insurance provider’s stock worth $183,935,000 after acquiring an additional 3,476 shares during the last quarter. Finally, Scharf Investments LLC increased its holdings in Markel Group by 4.0% during the 4th quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock valued at $180,214,000 after purchasing an additional 4,933 shares in the last quarter. 77.12% of the stock is owned by institutional investors.

Markel Group Trading Up 0.1 %

Shares of MKL opened at $1,601.43 on Monday. The stock’s fifty day simple moving average is $1,550.62 and its 200-day simple moving average is $1,483.72. The firm has a market capitalization of $20.82 billion, a PE ratio of 8.65 and a beta of 0.73. 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 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.25.

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

Insider Buying and Selling at Markel Group

In other Markel Group news, Director Greta J. Harris sold 122 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the completion of the sale, the director now owns 634 shares in the company, valued at approximately $1,027,606.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Steven A. Markel sold 3,000 shares of Markel Group stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greta J. Harris sold 122 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the completion of the sale, the director now directly owns 634 shares of the company’s stock, 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.

Analysts Set New Price Targets

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

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.