NorthCrest Asset Manangement LLC acquired a new position in Markel Group Inc. (NYSE:MKL – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,891 shares of the insurance provider’s stock, valued at approximately $3,693,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKL. Delta Asset Management LLC TN purchased a new position in shares of Markel Group during the fourth quarter worth approximately $29,000. Belpointe Asset Management LLC purchased a new position in shares of Markel Group during the fourth quarter worth approximately $30,000. Ronald Blue Trust Inc. increased its position in shares of Markel Group by 87.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 30 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 14 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Markel Group during the fourth quarter worth approximately $33,000. Finally, Achmea Investment Management B.V. purchased a new position in shares of Markel Group during the first quarter worth approximately $41,000. 76.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Markel Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 30th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,516.67.
Markel Group Price Performance
Markel Group (NYSE:MKL – Free Report) last announced its earnings results on Wednesday, April 26th. The insurance provider reported $17.35 earnings per share for the quarter, beating the consensus estimate of $16.23 by $1.12. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.38 billion. Markel Group had a net margin of 2.58% and a return on equity of 8.13%. As a group, analysts predict that Markel Group Inc. will post 78.32 earnings per share for the current fiscal year.
Insider Buying and Selling at Markel Group
In related news, Director A. Lynne Puckett acquired 75 shares of the stock in a transaction dated Friday, April 28th. The stock was acquired at an average cost of $1,340.66 per share, for a total transaction of $100,549.50. Following the completion of the purchase, the director now owns 1,031 shares of the company’s stock, valued at approximately $1,382,220.46. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Markel Group news, CEO Thomas Sinnickson Gayner bought 50 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was bought at an average cost of $1,359.93 per share, for a total transaction of $67,996.50. Following the completion of the transaction, the chief executive officer now directly owns 43,717 shares of the company’s stock, valued at approximately $59,452,059.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Lynne Puckett bought 75 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average price of $1,340.66 per share, with a total value of $100,549.50. Following the completion of the transaction, the director now directly owns 1,031 shares of the company’s stock, valued at $1,382,220.46. The disclosure for this purchase can be found here. Insiders bought a total of 194 shares of company stock worth $260,642 over the last three months. Corporate insiders own 1.75% of the company’s stock.
About Markel Group
Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. 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.
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