SouthState Corp Reduces Position in Markel Group Inc. (NYSE:MKL)

SouthState Corp trimmed its holdings in Markel Group Inc. (NYSE:MKL) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77 shares of the insurance provider’s stock after selling 10 shares during the quarter. SouthState Corp’s holdings in Markel Group were worth $133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA grew its holdings in Markel Group by 23.1% in the fourth quarter. Private Trust Co. NA now owns 32 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 6 shares during the last quarter. Wellington Shields & Co. LLC raised its stake in Markel Group by 4.3% in the fourth quarter. Wellington Shields & Co. LLC now owns 145 shares of the insurance provider’s stock valued at $250,000 after buying an additional 6 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in Markel Group by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 428 shares of the insurance provider’s stock worth $739,000 after acquiring an additional 7 shares in the last quarter. Greenleaf Trust grew its stake in shares of Markel Group by 3.4% during the fourth quarter. Greenleaf Trust now owns 213 shares of the insurance provider’s stock worth $368,000 after acquiring an additional 7 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Markel Group by 1.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 469 shares of the insurance provider’s stock valued at $810,000 after acquiring an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Trading Up 0.7 %

Shares of MKL stock opened at $1,860.89 on Tuesday. Markel Group Inc. has a 1-year low of $1,417.65 and a 1-year high of $2,063.68. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 9.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50 day simple moving average of $1,841.01 and a 200-day simple moving average of $1,711.83.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a return on equity of 7.55% and a net margin of 16.34%. On average, equities research analysts expect that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on MKL. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. TD Cowen lowered shares of Markel Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Finally, Royal Bank of Canada raised their target price on Markel Group from $1,750.00 to $2,025.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Markel Group presently has an average rating of “Hold” and an average price target of $1,702.20.

Insider Activity

In other news, Director Steven A. Markel sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the completion of the sale, the director now owns 63,722 shares in the company, valued at $118,426,699.78. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Sinnickson Gayner purchased 100 shares of Markel Group stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $2,008.01 per share, for a total transaction of $200,801.00. Following the transaction, the chief executive officer now owns 48,945 shares in the company, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,034 shares of company stock worth $3,778,952 over the last ninety days. Corporate insiders own 1.71% of the company’s stock.

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.