Convergence Financial LLC Purchases Shares of 386 Markel Group Inc. $MKL

Convergence Financial LLC purchased a new position in Markel Group Inc. (NYSE:MKL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 386 shares of the insurance provider’s stock, valued at approximately $738,000.

A number of other large investors have also recently made changes to their positions in the stock. Clearstead Trust LLC increased its holdings in Markel Group by 180.0% in the 2nd quarter. Clearstead Trust LLC now owns 14 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 9 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of Markel Group in the second quarter worth approximately $32,000. GoalVest Advisory LLC bought a new position in shares of Markel Group in the third quarter worth approximately $38,000. Hemington Wealth Management increased its stake in shares of Markel Group by 35.3% in the third quarter. Hemington Wealth Management now owns 23 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 6 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Markel Group by 316.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 19 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Stock Performance

NYSE MKL opened at $2,080.98 on Friday. 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 1-year low of $1,621.89 and a 1-year high of $2,207.59. The business has a 50 day simple moving average of $2,102.14 and a two-hundred day simple moving average of $2,016.00. The stock has a market capitalization of $26.24 billion, a PE ratio of 12.26 and a beta of 0.79.

Insider Buying and Selling at Markel Group

In other news, CEO Simon Wilson sold 75 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 1,770 shares of the company’s stock, valued at $3,669,103.80. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven A. Markel sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,119.12, for a total value of $2,818,429.60. Following the transaction, the director directly owned 60,368 shares in the company, valued at approximately $127,927,036.16. This represents a 2.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,575 shares of company stock valued at $3,330,900 in the last quarter. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MKL. Zacks Research lowered Markel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Markel Group in a research report on Monday, December 29th. Finally, Truist Financial lifted their target price on Markel Group from $2,000.00 to $2,100.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2,100.00.

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.