Ables Iannone Moore & Associates Inc. Acquires New Shares in Markel Group Inc. (NYSE:MKL)

Ables Iannone Moore & Associates Inc. purchased a new position in Markel Group Inc. (NYSE:MKL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40 shares of the insurance provider’s stock, valued at approximately $57,000.

A number of other hedge funds have also added to or reduced their stakes in MKL. Opal Wealth Advisors LLC lifted its position in Markel Group by 2.3% during the fourth quarter. Opal Wealth Advisors LLC now owns 318 shares of the insurance provider’s stock valued at $452,000 after purchasing an additional 7 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Markel Group by 4.9% in the 4th quarter. Signaturefd LLC now owns 151 shares of the insurance provider’s stock worth $214,000 after buying an additional 7 shares during the period. Intellectus Partners LLC increased its holdings in Markel Group by 1.9% during the fourth quarter. Intellectus Partners LLC now owns 429 shares of the insurance provider’s stock valued at $609,000 after buying an additional 8 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Markel Group by 1.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 434 shares of the insurance provider’s stock worth $616,000 after buying an additional 8 shares during the last quarter. Finally, Watchman Group Inc. increased its position in Markel Group by 0.3% during the 4th quarter. Watchman Group Inc. now owns 2,355 shares of the insurance provider’s stock valued at $3,344,000 after buying an additional 8 shares in the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Markel Group

In other news, Director Greta J. Harris sold 122 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the completion of the transaction, the director now directly owns 634 shares in the company, valued at $1,027,606.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Steven A. Markel sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $109,228,184.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greta J. Harris sold 122 shares of Markel Group stock in a transaction on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the completion of the transaction, the director now owns 634 shares in the company, valued at $1,027,606.22. The disclosure for this sale can be found here. 1.71% of the stock is owned by insiders.

Analyst Ratings Changes

MKL has been the subject of several recent research reports. Truist Financial increased their price objective 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. Royal Bank of Canada increased their price target on Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Finally, Janney Montgomery Scott reissued a “neutral” rating and set a $1,600.00 price objective on shares of Markel Group in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,520.00.

Markel Group Trading Up 0.6 %

Shares of NYSE:MKL traded up $9.98 during midday trading on Monday, reaching $1,554.05. 57,629 shares of the company’s stock were exchanged, compared to its average volume of 44,985. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 8.33 and a beta of 0.73. Markel Group Inc. has a fifty-two week low of $1,295.65 and a fifty-two week high of $1,670.24. The firm’s 50 day simple moving average is $1,556.21 and its two-hundred day simple moving average is $1,488.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.61 and a quick ratio of 0.61.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 earnings per share for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). Markel Group had a net margin of 15.23% and a return on equity of 11.18%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.62 billion. As a group, sell-side analysts forecast that Markel Group Inc. will post 82.83 EPS for the current fiscal year.

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.