Markel Group Inc. (NYSE:MKL) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Markel Group Inc. (NYSE:MKL) by 616.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,219 shares of the insurance provider’s stock after buying an additional 3,630 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Markel Group were worth $5,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MKL. Morgan Stanley boosted its position in shares of Markel Group by 521.2% during the 4th quarter. Morgan Stanley now owns 530,597 shares of the insurance provider’s stock worth $699,057,000 after acquiring an additional 445,182 shares in the last quarter. Norges Bank acquired a new position in shares of Markel Group during the 4th quarter worth about $182,438,000. Imprint Wealth LLC acquired a new position in shares of Markel Group during the 2nd quarter worth about $4,150,000. Invesco Ltd. boosted its position in shares of Markel Group by 109.6% during the 3rd quarter. Invesco Ltd. now owns 69,272 shares of the insurance provider’s stock worth $102,002,000 after acquiring an additional 36,215 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Markel Group by 104.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 51,669 shares of the insurance provider’s stock worth $76,082,000 after acquiring an additional 26,418 shares in the last quarter. 77.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1,475.00 price objective on shares of Markel Group in a research report on Friday, February 2nd. Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 target price on shares of Markel Group in a research report on Friday, March 15th. Finally, Jefferies Financial Group cut Markel Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1,450.00.

Insiders Place Their Bets

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was bought at an average cost of $1,414.74 per share, with a total value of $141,474.00. Following the transaction, the chief executive officer now owns 45,039 shares of the company’s stock, valued at $63,718,474.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Markel Group news, Director A. Lynne Puckett bought 72 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $1,409.28 per share, with a total value of $101,468.16. Following the purchase, the director now owns 960 shares in the company, valued at approximately $1,352,908.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Sinnickson Gayner bought 100 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $1,414.74 per share, with a total value of $141,474.00. Following the completion of the purchase, the chief executive officer now owns 45,039 shares in the company, valued at approximately $63,718,474.86. The disclosure for this purchase can be found here. 1.71% of the stock is owned by insiders.

Markel Group Stock Up 0.6 %

Shares of NYSE MKL opened at $1,437.07 on Friday. The stock has a market cap of $18.74 billion, a PE ratio of 9.78 and a beta of 0.70. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Markel Group Inc. has a 52-week low of $1,272.43 and a 52-week high of $1,560.00. The business has a 50-day moving average price of $1,482.91 and a 200 day moving average price of $1,444.82.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share for the quarter, topping analysts’ consensus estimates of $23.58 by $32.90. Markel Group had a return on equity of 11.22% and a net margin of 12.63%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Equities research analysts forecast that Markel Group Inc. will post 80.08 earnings per share for the current year.

Markel Group Company 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.