Allstate Corp Acquires Shares of 436 Markel Group Inc. $MKL

Allstate Corp acquired a new position in Markel Group Inc. (NYSE:MKL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 436 shares of the insurance provider’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKL. LGT Fund Management Co Ltd. acquired a new position in Markel Group during the 2nd quarter worth $793,000. Osaic Holdings Inc. raised its position in shares of Markel Group by 121.2% during the second quarter. Osaic Holdings Inc. now owns 2,853 shares of the insurance provider’s stock worth $5,705,000 after acquiring an additional 1,563 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of Markel Group during the second quarter worth $310,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Markel Group by 5.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 4,017 shares of the insurance provider’s stock valued at $8,023,000 after acquiring an additional 203 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Markel Group by 10.8% in the second quarter. American Century Companies Inc. now owns 26,527 shares of the insurance provider’s stock valued at $52,984,000 after acquiring an additional 2,575 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Markel Group news, Director Steven A. Markel sold 1,330 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,119.12, for a total value of $2,818,429.60. Following the completion of the transaction, the director directly owned 60,368 shares of the company’s stock, valued at approximately $127,927,036.16. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Simon Wilson sold 75 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $2,072.94, for a total value of $155,470.50. Following the sale, the chief executive officer directly owned 1,770 shares in the company, valued at approximately $3,669,103.80. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,575 shares of company stock valued at $3,330,900. 1.66% of the stock is owned by corporate insiders.

Markel Group Stock Performance

Shares of MKL stock opened at $2,058.20 on Thursday. The stock has a market cap of $25.95 billion, a PE ratio of 12.88 and a beta of 0.80. The stock has a 50-day moving average of $2,106.91 and a 200-day moving average of $2,007.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a one year low of $1,621.89 and a one year high of $2,207.59.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $22.77 by $8.13. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Markel Group had a net margin of 12.99% and a return on equity of 7.76%. As a group, sell-side analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reissued a “buy (b+)” rating on shares of Markel Group in a report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Markel Group in a research report on Tuesday, October 7th. Finally, Zacks Research lowered shares of Markel Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2,025.00.

Markel Group Company Profile

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.