Jennison Associates LLC Sells 1,755 Shares of Markel Group Inc. $MKL

Jennison Associates LLC cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,444 shares of the insurance provider’s stock after selling 1,755 shares during the quarter. Jennison Associates LLC’s holdings in Markel Group were worth $136,749,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MKL. Davis Selected Advisers increased its stake in shares of Markel Group by 11.1% in the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider’s stock valued at $892,496,000 after buying an additional 41,632 shares during the period. Select Equity Group L.P. lifted its stake in shares of Markel Group by 75.9% in the second quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider’s stock worth $671,850,000 after acquiring an additional 145,146 shares during the period. State Street Corp lifted its stake in shares of Markel Group by 2.1% in the third quarter. State Street Corp now owns 304,400 shares of the insurance provider’s stock worth $581,818,000 after acquiring an additional 6,160 shares during the period. DAVENPORT & Co LLC boosted its holdings in Markel Group by 2.4% in the fourth quarter. DAVENPORT & Co LLC now owns 209,999 shares of the insurance provider’s stock valued at $452,365,000 after acquiring an additional 4,972 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in Markel Group by 13.0% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 204,861 shares of the insurance provider’s stock valued at $440,379,000 after acquiring an additional 23,631 shares during the last quarter. Institutional investors own 77.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MKL. Weiss Ratings lowered shares of Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Brean Capital initiated coverage on shares of Markel Group in a research note on Tuesday, March 24th. They issued a “neutral” rating and a $2,100.00 price objective on the stock. Truist Financial decreased their price objective on shares of Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Markel Group from a “buy” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Wolfe Research started coverage on shares of Markel Group in a report on Wednesday, July 1st. They issued an “underperform” rating on the stock. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $2,025.00.

Markel Group Trading Up 0.5%

NYSE MKL opened at $1,970.12 on Friday. The business has a 50 day simple moving average of $1,878.19 and a 200 day simple moving average of $1,956.88. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59. The stock has a market capitalization of $24.65 billion, a P/E ratio of 14.20 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.63 and a quick ratio of 0.63.

Markel Group (NYSE:MKL) last issued its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.66 billion. Research analysts expect that Markel Group Inc. will post 114.11 earnings per share for the current year.

Insider Activity at Markel Group

In other news, Director Greta J. Harris sold 76 shares of Markel Group stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total value of $140,395.56. Following the completion of the sale, the director owned 645 shares in the company, valued at $1,191,514.95. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diane Leopold bought 50 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average price of $1,789.19 per share, for a total transaction of $89,459.50. Following the transaction, the director directly owned 550 shares in the company, valued at $984,054.50. This trade represents a 10.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.08% of the company’s stock.

Markel Group Profile

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.