State of Alaska Department of Revenue Trims Stake in Markel Group Inc. (NYSE:MKL)

State of Alaska Department of Revenue lessened its holdings in shares of Markel Group Inc. (NYSE:MKL) by 25.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,818 shares of the insurance provider’s stock after selling 945 shares during the quarter. State of Alaska Department of Revenue’s holdings in Markel Group were worth $4,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp raised its stake in shares of Markel Group by 1,000.0% in the third quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock worth $35,000 after buying an additional 20 shares during the period. UMB Bank n.a. lifted its stake in shares of Markel Group by 833.3% during the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock valued at $44,000 after buying an additional 25 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Markel Group in the 2nd quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Markel Group in the 2nd quarter worth $55,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Markel Group during the second quarter valued at about $65,000. Institutional investors own 77.12% of the company’s stock.

Markel Group Price Performance

NYSE:MKL opened at $1,564.45 on Wednesday. The business has a 50 day simple moving average of $1,568.39 and a 200-day simple moving average of $1,565.71. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,670.24. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of 8.45 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share for the quarter, topping analysts’ consensus estimates of $20.76 by $5.19. Markel Group had a net margin of 13.00% and a return on equity of 11.12%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.86 billion. Equities analysts forecast that Markel Group Inc. will post 91.55 EPS for the current year.

Analyst Ratings Changes

MKL has been the subject of several recent analyst reports. TD Cowen started coverage on Markel Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price target for the company. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Citigroup boosted their price target on shares of Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group lifted their price objective on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $1,643.50.

Insider Activity at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham bought 20 shares of Markel Group stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $1,512.50 per share, for a total transaction of $30,250.00. Following the completion of the purchase, the director now directly owns 743 shares in the company, valued at approximately $1,123,787.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.