Wedge Capital Management L L P NC Reduces Holdings in Markel Group Inc. $MKL

Wedge Capital Management L L P NC cut its stake in Markel Group Inc. (NYSE:MKL) by 29.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,297 shares of the insurance provider’s stock after selling 1,786 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Markel Group were worth $9,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MKL. Canerector Inc. grew its holdings in shares of Markel Group by 191,036.0% during the third quarter. Canerector Inc. now owns 10,703,616 shares of the insurance provider’s stock worth $20,458,463,000 after purchasing an additional 10,698,016 shares during the last quarter. Select Equity Group L.P. increased its position in shares of 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 purchasing an additional 145,146 shares in the last quarter. Norges Bank purchased a new stake in shares of Markel Group in the 2nd quarter valued at about $288,361,000. Rakuten Investment Management Inc. acquired a new stake in shares of Markel Group in the 3rd quarter valued at about $46,738,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Markel Group in the 3rd quarter valued at about $38,288,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MKL shares. Zacks Research lowered Markel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Brean Capital initiated coverage on Markel Group in a report on Tuesday, March 24th. They issued a “neutral” rating and a $2,100.00 price objective for the company. Wall Street Zen upgraded shares of Markel Group from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Truist Financial lifted their target price on shares of Markel Group from $2,000.00 to $2,100.00 and gave the company a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Markel Group in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2,100.00.

Markel Group Stock Performance

Shares of MKL stock opened at $1,866.10 on Friday. The stock has a market capitalization of $23.47 billion, a PE ratio of 10.99 and a beta of 0.77. Markel Group Inc. has a 52-week low of $1,621.89 and a 52-week high of $2,207.59. The stock’s 50-day moving average price is $2,015.26 and its 200 day moving average price is $2,021.20. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling at Markel Group

In other news, CEO Simon Wilson sold 100 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $2,079.48, for a total value of $207,948.00. Following the transaction, the chief executive officer owned 2,397 shares of the company’s stock, valued at approximately $4,984,513.56. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.66% of the company’s stock.

Markel Group Company 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.