Janney Montgomery Scott LLC Has $6.36 Million Stake in Markel Group Inc. (NYSE:MKL)

Posted by Defense World Staff on Jul 23rd, 2023

Janney Montgomery Scott LLC trimmed its holdings in Markel Group Inc. (NYSE:MKL – Free Report) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,976 shares of the insurance provider’s stock after selling 15 shares during the period. Janney Montgomery Scott LLC’s holdings in Markel Group were worth $6,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delta Asset Management LLC TN acquired a new stake in shares of Markel Group in the fourth quarter valued at approximately $29,000. Belpointe Asset Management LLC acquired a new stake in shares of Markel Group in the fourth quarter valued at approximately $30,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Markel Group in the fourth quarter valued at approximately $33,000. Achmea Investment Management B.V. acquired a new position in Markel Group during the first quarter valued at approximately $41,000. Finally, Ronald Blue Trust Inc. raised its position in Markel Group by 87.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 30 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 14 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Markel Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,516.67.

Insider Transactions at Markel Group

In related news, Director A. Lynne Puckett purchased 75 shares of the stock in a transaction dated Friday, April 28th. The stock was bought at an average cost of $1,340.66 per share, for a total transaction of $100,549.50. Following the completion of the acquisition, the director now owns 1,031 shares of the company’s stock, valued at $1,382,220.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director A. Lynne Puckett purchased 75 shares of the stock in a transaction dated Friday, April 28th. The stock was bought at an average cost of $1,340.66 per share, for a total transaction of $100,549.50. Following the completion of the acquisition, the director now owns 1,031 shares of the company’s stock, valued at $1,382,220.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lawrence A. Cunningham acquired 50 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was bought at an average price of $1,336.25 per share, with a total value of $66,812.50. Following the completion of the acquisition, the director now directly owns 347 shares of the company’s stock, valued at $463,678.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 194 shares of company stock worth $260,642. Corporate insiders own 1.75% of the company’s stock.

Markel Group Stock Performance

NYSE MKL opened at $1,435.34 on Friday. The firm’s fifty day moving average price is $1,356.10 and its two-hundred day moving average price is $1,340.92. The stock has a market cap of $19.16 billion, a PE ratio of 69.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.66 and a current ratio of 0.66. Markel Group Inc. has a fifty-two week low of $1,064.09 and a fifty-two week high of $1,458.56.

Markel Group (NYSE:MKL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $17.35 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that Markel Group Inc. will post 77.92 EPS for the current fiscal year.

Markel Group Profile

(Free Report)

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.