Panagora Asset Management Inc. Has $216,000 Position in Markel Group Inc. $MKL

Panagora Asset Management Inc. cut its holdings in shares of Markel Group Inc. (NYSE:MKL) by 88.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108 shares of the insurance provider’s stock after selling 844 shares during the quarter. Panagora Asset Management Inc.’s holdings in Markel Group were worth $216,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Clearstead Trust LLC raised its holdings in Markel Group by 180.0% during the second quarter. Clearstead Trust LLC now owns 14 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 9 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Markel Group during the 1st quarter worth approximately $32,000. Chilton Capital Management LLC acquired a new stake in shares of Markel Group in the 2nd quarter valued at approximately $32,000. Ameritas Advisory Services LLC bought a new position in shares of Markel Group in the second quarter valued at $38,000. Finally, Ransom Advisory Ltd acquired a new position in Markel Group during the first quarter worth $64,000. Institutional investors own 77.12% of the company’s stock.

Markel Group Stock Performance

Shares of MKL stock opened at $2,049.48 on Monday. Markel Group Inc. has a 52 week low of $1,621.89 and a 52 week high of $2,109.91. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 12.83 and a beta of 0.81. The company has a 50-day simple moving average of $1,980.43 and a 200 day simple moving average of $1,964.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.60 and a current ratio of 0.60.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share for the quarter, beating the consensus estimate of $22.77 by $8.13. Markel Group had a net margin of 12.99% and a return on equity of 7.76%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.77 billion. On average, sell-side analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MKL shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Markel Group in a research note on Monday, December 1st. Cowen reiterated a “hold” rating on shares of Markel Group in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,025.00.

Insider Activity at Markel Group

In related news, CEO Simon Wilson sold 75 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $2,072.94, for a total value of $155,470.50. Following the completion of the sale, the chief executive officer directly owned 1,770 shares in the company, valued at $3,669,103.80. The trade was a 4.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Markel sold 100 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $2,100.00, for a total value of $210,000.00. Following the transaction, the director owned 61,698 shares in the company, valued at $129,565,800. The trade was a 0.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 245 shares of company stock valued at $512,471. 1.66% of the stock is currently 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.