Commonwealth Equity Services LLC Raises Holdings in Markel Group Inc. (NYSE:MKL)

Posted by Defense World Staff on Sep 1st, 2023

Commonwealth Equity Services LLC lifted its stake in shares of Markel Group Inc. (NYSE:MKL – Free Report) by 11.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,537 shares of the insurance provider’s stock after buying an additional 450 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Markel Group were worth $5,795,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Markel Group during the 1st quarter worth approximately $148,000. American Century Companies Inc. increased its holdings in Markel Group by 11.9% in the first quarter. American Century Companies Inc. now owns 628 shares of the insurance provider’s stock valued at $926,000 after buying an additional 67 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Markel Group in the first quarter valued at $549,000. Rhumbline Advisers lifted its holdings in Markel Group by 2.7% during the 1st quarter. Rhumbline Advisers now owns 11,913 shares of the insurance provider’s stock worth $17,575,000 after buying an additional 308 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of Markel Group by 4.7% during the 1st quarter. Yousif Capital Management LLC now owns 332 shares of the insurance provider’s stock worth $490,000 after acquiring an additional 15 shares in the last quarter. 76.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Markel Group news, Director Greta J. Harris sold 103 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $1,491.88, for a total transaction of $153,663.64. Following the transaction, the director now directly owns 656 shares of the company’s stock, valued at approximately $978,673.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Markel Group news, Director Greta J. Harris sold 103 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $1,491.88, for a total transaction of $153,663.64. Following the completion of the sale, the director now directly owns 656 shares of the company’s stock, valued at approximately $978,673.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence A. Cunningham bought 25 shares of the stock in a transaction on Tuesday, August 29th. The stock was bought at an average price of $1,460.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the director now directly owns 463 shares in the company, valued at approximately $675,980. The disclosure for this purchase can be found here. 1.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a research note on Friday, August 4th. StockNews.com initiated coverage on shares of Markel Group in a research report on Thursday, August 17th. They set a “buy” rating for the company.

Read Our Latest Analysis on MKL

Markel Group Stock Down 0.3 %

Shares of NYSE MKL opened at $1,478.00 on Friday. The business has a 50-day moving average price of $1,432.09 and a 200 day moving average price of $1,359.39. The stock has a market cap of $19.60 billion, a PE ratio of 10.56 and a beta of 0.78. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.28. Markel Group Inc. has a 52-week low of $1,064.09 and a 52-week high of $1,519.96.

Markel Group (NYSE:MKL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share for the quarter, beating analysts’ consensus estimates of $19.17 by $3.26. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Markel Group had a return on equity of 8.77% and a net margin of 12.87%. Equities research analysts forecast that Markel Group Inc. will post 82.32 earnings per share for the current year.

Markel Group Company 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.