Evermay Wealth Management LLC Makes New Investment in Markel Group Inc. (NYSE:MKL)

Evermay Wealth Management LLC bought a new position in shares of Markel Group Inc. (NYSE:MKL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 49 shares of the insurance provider’s stock, valued at approximately $75,000.

Several other hedge funds have also recently modified their holdings of MKL. International Assets Investment Management LLC bought a new stake in shares of Markel Group in the 4th quarter worth approximately $18,145,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Markel Group by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider’s stock worth $48,412,000 after purchasing an additional 888 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Markel Group by 7.1% in the 4th quarter. Pinnacle Associates Ltd. now owns 17,656 shares of the insurance provider’s stock worth $25,070,000 after purchasing an additional 1,167 shares during the period. Chicago Capital LLC bought a new stake in shares of Markel Group in the 4th quarter worth approximately $3,313,000. Finally, Sei Investments Co. raised its holdings in shares of Markel Group by 41.7% in the 1st quarter. Sei Investments Co. now owns 4,308 shares of the insurance provider’s stock worth $6,554,000 after purchasing an additional 1,268 shares during the period. Institutional investors own 77.12% of the company’s stock.

Insider Activity

In other news, Director Greta J. Harris sold 122 shares of the business’s 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 directly owns 634 shares in the company, valued at approximately $1,027,606.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Greta J. Harris sold 122 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Markel sold 3,000 shares of the company’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 owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MKL shares. Royal Bank of Canada lifted their price target on shares of Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. TD Cowen assumed coverage on shares of Markel Group in a report on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 target price on the stock. Citigroup boosted their target price on shares of Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a report on Tuesday. Finally, Truist Financial boosted their target price on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,626.83.

Markel Group Price Performance

Shares of MKL traded up $5.33 during mid-day trading on Thursday, reaching $1,570.53. 47,037 shares of the stock traded hands, compared to its average volume of 44,946. The firm has a fifty day moving average price of $1,587.06 and a 200 day moving average price of $1,521.20. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 8.48 and a beta of 0.73. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.25. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,670.24.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Markel Group had a net margin of 15.23% and a return on equity of 11.18%. As a group, equities research analysts predict that Markel Group Inc. will post 82.93 earnings per share for the current year.

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.