abrdn plc Raises Stock Holdings in Markel Group Inc. (NYSE:MKL)

abrdn plc increased its position in Markel Group Inc. (NYSE:MKL) by 97.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,508 shares of the insurance provider’s stock after purchasing an additional 2,226 shares during the period. abrdn plc’s holdings in Markel Group were worth $6,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Markel Group in the fourth quarter worth $18,145,000. Pinnacle Associates Ltd. boosted its holdings in Markel Group by 7.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 17,656 shares of the insurance provider’s stock worth $25,070,000 after acquiring an additional 1,167 shares in the last quarter. Chicago Capital LLC bought a new stake in Markel Group in the fourth quarter worth $3,313,000. Allspring Global Investments Holdings LLC boosted its holdings in Markel Group by 616.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,219 shares of the insurance provider’s stock worth $5,991,000 after acquiring an additional 3,630 shares in the last quarter. Finally, Scharf Investments LLC boosted its holdings in Markel Group by 4.0% in the fourth quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock worth $180,214,000 after acquiring an additional 4,933 shares in the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Trading Down 1.0 %

Shares of NYSE:MKL opened at $1,436.52 on Friday. The company has a market cap of $18.73 billion, a P/E ratio of 9.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.62. Markel Group Inc. has a 1 year low of $1,272.43 and a 1 year high of $1,560.00. The stock’s fifty day moving average price is $1,483.67 and its 200-day moving average price is $1,444.67.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.75 billion. Sell-side analysts expect that Markel Group Inc. will post 80.08 earnings per share for the current year.

Analysts Set New Price Targets

MKL has been the topic of several analyst reports. Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 target price on shares of Markel Group in a report on Friday, March 15th. Jefferies Financial Group downgraded Markel Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $1,680.00 to $1,500.00 in a report on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1,475.00 price target on shares of Markel Group in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1,450.00.

Insider Buying and Selling at Markel Group

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

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.