Tributary Capital Management LLC Reduces Holdings in Markel Group Inc. (NYSE:MKL)

Tributary Capital Management LLC decreased its holdings in shares of Markel Group Inc. (NYSE:MKL) by 17.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 570 shares of the insurance provider’s stock after selling 117 shares during the period. Tributary Capital Management LLC’s holdings in Markel Group were worth $867,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MKL. LPL Financial LLC boosted its position in Markel Group by 5.0% in the third quarter. LPL Financial LLC now owns 4,038 shares of the insurance provider’s stock valued at $5,945,000 after buying an additional 192 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Markel Group by 118.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,092 shares of the insurance provider’s stock valued at $1,608,000 after acquiring an additional 591 shares during the period. Bank of Nova Scotia lifted its holdings in Markel Group by 18.2% in the third quarter. Bank of Nova Scotia now owns 299 shares of the insurance provider’s stock valued at $440,000 after acquiring an additional 46 shares during the period. Gotham Asset Management LLC acquired a new position in Markel Group in the third quarter valued at approximately $729,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Markel Group by 477.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,063 shares of the insurance provider’s stock valued at $1,565,000 after acquiring an additional 879 shares during the period. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Price Performance

Shares of MKL traded down $3.79 during trading hours on Tuesday, hitting $1,571.55. 578 shares of the stock were exchanged, compared to its average volume of 45,388. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61. 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 market cap of $20.43 billion, a price-to-earnings ratio of 8.51 and a beta of 0.73. The stock’s 50-day moving average price is $1,581.79 and its two-hundred day moving average price is $1,501.85.

Markel Group (NYSE:MKL) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS 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 analysts’ expectations of $3.62 billion. Research analysts expect that Markel Group Inc. will post 82.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Greta J. Harris sold 122 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was 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 in the company, valued at $1,027,606.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Markel Group news, Director Steven A. Markel sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total value of $4,915,170.00. Following the completion of the sale, the director now directly owns 66,668 shares in the company, valued at approximately $109,228,184.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $197,741.26. Following the completion of the sale, the director now owns 634 shares of the company’s stock, valued at $1,027,606.22. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

About Markel Group

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.