Citigroup Inc. Decreases Stock Position in Markel Group Inc. (NYSE:MKL)

Citigroup Inc. cut its position in Markel Group Inc. (NYSE:MKL) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,127 shares of the insurance provider’s stock after selling 844 shares during the quarter. Citigroup Inc. owned 0.09% of Markel Group worth $15,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lakewood Asset Management LLC purchased a new position in shares of Markel Group in the fourth quarter valued at $647,000. Dark Forest Capital Management LP boosted its stake in shares of Markel Group by 1,000.0% in the fourth quarter. Dark Forest Capital Management LP now owns 88 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 80 shares during the period. Arlington Partners LLC boosted its stake in shares of Markel Group by 8.5% in the first quarter. Arlington Partners LLC now owns 153 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 12 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Markel Group by 26.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 707 shares of the insurance provider’s stock valued at $931,000 after purchasing an additional 150 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE purchased a new position in shares of Markel Group in the first quarter valued at $1,488,000. 76.96% of the stock is currently owned by hedge funds and other institutional investors.

Markel Group Trading Up 0.5 %

MKL opened at $1,472.36 on Tuesday. The stock has a market capitalization of $19.52 billion, a PE ratio of 10.52 and a beta of 0.78. The firm’s fifty day moving average price is $1,423.43 and its 200 day moving average price is $1,356.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.64 and a quick ratio of 0.64. Markel Group Inc. has a 12-month low of $1,064.09 and a 12-month high of $1,519.96.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.17 by $3.26. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Markel Group had a net margin of 12.87% and a return on equity of 8.77%. As a group, research analysts expect that Markel Group Inc. will post 82.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Markel Group news, CEO Thomas Sinnickson Gayner bought 100 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $1,479.47 per share, with a total value of $147,947.00. Following the completion of the acquisition, the chief executive officer now owns 44,885 shares of the company’s stock, valued at $66,406,010.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Markel Group news, CEO Thomas Sinnickson Gayner bought 100 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $1,479.47 per share, with a total value of $147,947.00. Following the completion of the acquisition, the chief executive officer now owns 44,885 shares of the company’s stock, valued at $66,406,010.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greta J. Harris sold 103 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $1,491.88, for a total transaction of $153,663.64. Following the sale, the director now directly owns 656 shares in the company, valued at $978,673.28. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MKL. StockNews.com began coverage on shares of Markel Group in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Truist Financial upped their price target on shares of Markel Group from $1,400.00 to $1,550.00 and gave the company a “hold” rating in a report on Friday, August 4th.

About Markel Group

Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. 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.