Empirical Financial Services LLC d.b.a. Empirical Wealth Management Trims Stake in Markel Group Inc. (NYSE:MKL)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its holdings in Markel Group Inc. (NYSE:MKL) by 22.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 182 shares of the insurance provider’s stock after selling 53 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Markel Group were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MKL. Morgan Stanley lifted its position in Markel Group by 3.2% during the third quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock valued at $793,979,000 after purchasing an additional 16,597 shares during the last quarter. Mackenzie Financial Corp increased its stake in Markel Group by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 129,541 shares of the insurance provider’s stock valued at $183,935,000 after acquiring an additional 3,476 shares during the last quarter. Scharf Investments LLC raised its position in Markel Group by 4.0% during the fourth quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock valued at $180,214,000 after purchasing an additional 4,933 shares in the last quarter. Legal & General Group Plc lifted its stake in Markel Group by 3.0% during the third quarter. Legal & General Group Plc now owns 94,781 shares of the insurance provider’s stock worth $139,564,000 after purchasing an additional 2,736 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Markel Group by 2.2% in the 3rd quarter. Northern Trust Corp now owns 88,501 shares of the insurance provider’s stock worth $130,317,000 after purchasing an additional 1,929 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MKL. Janney Montgomery Scott reissued a “neutral” rating and set a $1,600.00 price target on shares of Markel Group in a research note on Friday, March 15th. Jefferies Financial Group lowered shares of Markel Group from a “buy” rating to a “hold” rating and cut their price target for the company from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. Royal Bank of Canada raised their price objective on Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Finally, Truist Financial boosted their target price on Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,520.00.

Markel Group Stock Up 1.3 %

Shares of NYSE:MKL opened at $1,636.56 on Friday. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,644.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.61 and a quick ratio of 0.61. The stock’s 50-day moving average is $1,499.61 and its 200 day moving average is $1,449.19. The company has a market cap of $21.28 billion, a PE ratio of 8.84 and a beta of 0.69.

Markel Group Profile

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.