Citigroup Inc. Decreases Stake in Markel Group Inc. $MKL

Citigroup Inc. cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 24.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,048 shares of the insurance provider’s stock after selling 1,979 shares during the quarter. Citigroup Inc.’s holdings in Markel Group were worth $11,560,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Select Equity Group L.P. grew its position in Markel Group by 75.9% during the second quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider’s stock worth $671,850,000 after buying an additional 145,146 shares during the period. Norges Bank purchased a new stake in shares of Markel Group during the 2nd quarter worth approximately $288,361,000. Rakuten Investment Management Inc. acquired a new stake in shares of Markel Group in the 3rd quarter worth approximately $46,738,000. Principal Financial Group Inc. grew its holdings in shares of Markel Group by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 547,188 shares of the insurance provider’s stock worth $1,045,947,000 after acquiring an additional 9,496 shares during the period. Finally, Vanguard Group Inc. increased its stake in Markel Group by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,167,813 shares of the insurance provider’s stock valued at $2,332,543,000 after purchasing an additional 9,303 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Insider Transactions at Markel Group

In other news, Director Steven A. Markel sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,119.12, for a total value of $2,818,429.60. Following the completion of the transaction, the director owned 60,368 shares of the company’s stock, valued at $127,927,036.16. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Simon Wilson sold 100 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $2,079.48, for a total transaction of $207,948.00. Following the transaction, the chief executive officer directly owned 2,397 shares in the company, valued at $4,984,513.56. The trade was a 4.00% decrease in their position. The SEC filing for this sale provides additional information. 1.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKL. Weiss Ratings reissued a “buy (b+)” rating on shares of Markel Group in a report on Monday, December 29th. Zacks Research lowered shares of Markel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Truist Financial increased their price objective on shares of Markel Group from $2,000.00 to $2,100.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2,100.00.

Markel Group Stock Up 0.2%

Shares of NYSE:MKL opened at $2,068.81 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $26.09 billion, a P/E ratio of 12.19 and a beta of 0.79. Markel Group Inc. has a 52-week low of $1,621.89 and a 52-week high of $2,207.59. The stock’s fifty day simple moving average is $2,093.33 and its 200-day simple moving average is $2,021.73.

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.