JPMorgan Chase & Co. Reduces Stock Holdings in Markel Group Inc. $MKL

JPMorgan Chase & Co. reduced its stake in Markel Group Inc. by 40.3% in Q2, selling 10,502 shares. The firm now owns 15,531 shares worth $31,021,000. Other hedge funds also adjusted their positions in Markel Group. Analysts have given the stock a 'Moderate Buy' rating with an average target price of $2,025.00. Insiders sold 245 shares worth $512,471 in the last three months. Markel Group's stock opened at $2,061.32 on Wednesday, with a market cap of $25.99 billion.

JPMorgan Chase & Co. lessened its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 40.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,531 shares of the insurance provider's stock after selling 10,502 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Markel Group worth $31,021,000 at the end of the most recent reporting period.

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A number of other hedge funds also recently made changes to their positions in the company. Baxter Bros Inc. boosted its stake in shares of Markel Group by 1.0% in the second quarter. Baxter Bros Inc. now owns 637 shares of the insurance provider's stock valued at $1,272,000 after purchasing an additional 6 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Markel Group by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,741 shares of the insurance provider's stock valued at $3,507,000 after buying an additional 6 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Markel Group by 4.7% during the second quarter. Flagship Harbor Advisors LLC now owns 135 shares of the insurance provider's stock valued at $270,000 after acquiring an additional 6 shares in the last quarter. Fidelis Capital Partners LLC increased its position in shares of Markel Group by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 180 shares of the insurance provider's stock worth $352,000 after acquiring an additional 6 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Markel Group by 1.8% in the second quarter. TD Waterhouse Canada Inc. now owns 347 shares of the insurance provider's stock worth $692,000 after acquiring an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MKL shares. Cowen restated a "hold" rating on shares of Markel Group in a research note on Tuesday, October 7th. Weiss Ratings reissued a "buy (b+)" rating on shares of Markel Group in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Markel Group presently has an average rating of "Moderate Buy" and an average target price of $2,025.00.

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Insiders Place Their Bets

In other Markel Group news, CEO Simon Wilson sold 75 shares of the firm's stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $2,072.94, for a total value of $155,470.50. Following the transaction, the chief executive officer owned 1,770 shares of the company's stock, valued at $3,669,103.80. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven A. Markel sold 100 shares of the company's stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $2,100.00, for a total value of $210,000.00. Following the transaction, the director directly owned 61,698 shares of the company's stock, valued at $129,565,800. This trade represents a 0.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 245 shares of company stock worth $512,471 over the last three months. 1.66% of the stock is owned by corporate insiders.

Markel Group Trading Down 0.6%

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NYSE:MKL opened at $2,061.32 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The business's 50 day moving average is $1,972.47 and its two-hundred day moving average is $1,961.21. 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 cap of $25.99 billion, a PE ratio of 12.90 and a beta of 0.81.

Markel Group (NYSE:MKL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share for the quarter, beating analysts' consensus estimates of $22.77 by $8.13. Markel Group had a return on equity of 7.91% and a net margin of 12.99%.The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, analysts predict that Markel Group Inc. will post 96.25 EPS for the current year.

About Markel Group

(Free Report)

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.

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