335 Markel Group Inc. $MKL Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its holdings in shares of Markel Group Inc. (NYSE:MKL) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,131 shares of the insurance provider’s stock after selling 335 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.12% of Markel Group worth $25,910,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Markel Group in the 2nd quarter valued at $1,362,880,000. Dimensional Fund Advisors LP raised its stake in shares of Markel Group by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 136,985 shares of the insurance provider’s stock worth $262,172,000 after purchasing an additional 6,428 shares during the period. Bank of America Corp DE purchased a new position in shares of Markel Group in the 2nd quarter worth about $231,608,000. Davis Asset Management L.P. purchased a new position in shares of Markel Group in the 2nd quarter worth about $179,882,000. Finally, JANA Partners Management LP boosted its holdings in shares of Markel Group by 1.9% in the 2nd quarter. JANA Partners Management LP now owns 76,743 shares of the insurance provider’s stock worth $149,880,000 after buying an additional 1,436 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,881.82 on Wednesday. The stock has a fifty day simple moving average of $1,790.15 and a two-hundred day simple moving average of $1,856.96. Markel Group Inc. has a 1-year low of $1,704.17 and a 1-year high of $2,207.59. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of 17.43 and a beta of 0.64. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

Several research firms recently weighed in on MKL. Weiss Ratings upgraded shares of Markel Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wolfe Research initiated coverage on shares of Markel Group in a research report on Wednesday, July 1st. They issued an “underperform” rating on the stock. Finally, Wall Street Zen raised shares of Markel Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Markel Group presently has a consensus rating of “Hold” and a consensus price target of $2,025.00.

About Markel Group

Markel Group Inc (NYSE: MKL) is a diversified holding company focused on specialty insurance, reinsurance, investments and industrial businesses. Through its insurance operations, the company provides coverage for risks that may be complex, specialized or underserved by standard insurance markets.

Markel’s insurance offerings include property and casualty coverage, professional liability, marine and energy insurance, workers’ compensation, and other specialty products. Its reinsurance business assumes portions of risk from other insurers.