PNC Financial Services Group Inc. Has $10.97 Million Holdings in Markel Group Inc. $MKL

PNC Financial Services Group Inc. increased its position in shares of Markel Group Inc. (NYSE:MKL) by 4.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,732 shares of the insurance provider’s stock after buying an additional 256 shares during the period. PNC Financial Services Group Inc.’s holdings in Markel Group were worth $10,971,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Davis Selected Advisers increased its holdings in Markel Group by 11.1% in the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider’s stock worth $892,496,000 after purchasing an additional 41,632 shares in the last quarter. Select Equity Group L.P. increased its stake in shares of Markel Group by 75.9% in the 2nd quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider’s stock valued at $671,850,000 after acquiring an additional 145,146 shares in the last quarter. State Street Corp increased its stake in shares of Markel Group by 2.1% in the 3rd quarter. State Street Corp now owns 304,400 shares of the insurance provider’s stock valued at $581,818,000 after acquiring an additional 6,160 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its position in shares of Markel Group by 13.0% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 204,861 shares of the insurance provider’s stock valued at $440,379,000 after acquiring an additional 23,631 shares during the period. Finally, Bank of America Corp DE boosted its stake in Markel Group by 5.9% during the third quarter. Bank of America Corp DE now owns 153,099 shares of the insurance provider’s stock worth $292,627,000 after acquiring an additional 8,539 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Insider Activity at Markel Group

In related news, Director Diane Leopold purchased 100 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $1,792.61 per share, with a total value of $179,261.00. Following the transaction, the director owned 2,190 shares of the company’s stock, valued at $3,925,815.90. This represents a 4.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greta J. Harris sold 76 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total value of $140,395.56. Following the transaction, the director owned 645 shares in the company, valued at approximately $1,191,514.95. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.08% of the stock is owned by insiders.

Analysts Set New Price Targets

MKL has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wall Street Zen cut shares of Markel Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 2nd. Wolfe Research initiated coverage on Markel Group in a research note on Wednesday, July 1st. They issued an “underperform” rating for the company. Finally, Truist Financial decreased their target price on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Markel Group has an average rating of “Reduce” and a consensus price target of $2,025.00.

Markel Group Trading Up 1.8%

NYSE:MKL opened at $1,995.96 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.63 and a quick ratio of 0.63. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59. The company has a market cap of $24.97 billion, a PE ratio of 14.38 and a beta of 0.66. The firm has a 50-day moving average of $1,891.27 and a 200-day moving average of $1,950.21.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share for the quarter, missing the consensus estimate of $26.38 by ($45.28). The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.66 billion. Markel Group had a net margin of 10.85% and a return on equity of 7.90%. As a group, equities research analysts expect that Markel Group Inc. will post 114.11 EPS for the current fiscal year.

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.