Manchester Financial Inc. Trims Stock Holdings in Markel Group Inc. (NYSE:MKL)

Manchester Financial Inc. reduced its stake in Markel Group Inc. (NYSE:MKL) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247 shares of the insurance provider’s stock after selling 10 shares during the period. Manchester Financial Inc.’s holdings in Markel Group were worth $351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Markel Group by 0.8% during the first quarter. BlackRock Inc. now owns 662,183 shares of the insurance provider’s stock worth $845,879,000 after buying an additional 5,003 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Markel Group by 3.2% in the third quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock valued at $793,979,000 after acquiring an additional 16,597 shares during the period. State Street Corp boosted its holdings in shares of Markel Group by 1.7% in the third quarter. State Street Corp now owns 303,717 shares of the insurance provider’s stock valued at $329,296,000 after acquiring an additional 5,183 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Markel Group by 2.8% in the first quarter. Geode Capital Management LLC now owns 178,792 shares of the insurance provider’s stock valued at $228,046,000 after acquiring an additional 4,871 shares during the period. Finally, Norges Bank acquired a new stake in shares of Markel Group in the fourth quarter valued at approximately $182,438,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average price of $1,414.74 per share, for a total transaction of $141,474.00. Following the transaction, the chief executive officer now owns 45,039 shares in the company, valued at approximately $63,718,474.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of Markel Group stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average cost of $1,414.74 per share, with a total value of $141,474.00. Following the transaction, the chief executive officer now owns 45,039 shares of the company’s stock, valued at approximately $63,718,474.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A. Lynne Puckett purchased 72 shares of Markel Group stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average cost of $1,409.28 per share, for a total transaction of $101,468.16. Following the completion of the transaction, the director now directly owns 960 shares in the company, valued at approximately $1,352,908.80. The disclosure for this purchase can be found here. 1.75% of the stock is currently owned by company insiders.

Markel Group Price Performance

Markel Group stock traded up $10.50 during midday trading on Monday, reaching $1,519.93. The company’s stock had a trading volume of 9,333 shares, compared to its average volume of 49,300. Markel Group Inc. has a fifty-two week low of $1,272.43 and a fifty-two week high of $1,560.00. The firm has a market capitalization of $19.82 billion, a PE ratio of 10.27 and a beta of 0.70. The stock’s 50 day simple moving average is $1,480.85 and its 200 day simple moving average is $1,447.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share for the quarter, beating analysts’ consensus estimates of $23.58 by $32.90. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Markel Group had a return on equity of 11.22% and a net margin of 12.63%. On average, equities research analysts forecast that Markel Group Inc. will post 82.15 earnings per share for the current year.

Analyst Ratings Changes

MKL has been the subject of several recent research reports. Jefferies Financial Group downgraded Markel Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $1,680.00 to $1,500.00 in a report on Monday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1,475.00 price target on shares of Markel Group in a report on Friday, February 2nd. Finally, Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 target price on shares of Markel Group in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Markel Group presently has an average rating of “Hold” and a consensus price target of $1,450.00.

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.