Markel Group Inc. (NYSE:MKL) is Sprucegrove Investment Management Ltd.’s 10th Largest Position

Sprucegrove Investment Management Ltd. raised its stake in shares of Markel Group Inc. (NYSE:MKL) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 18,182 shares of the insurance provider’s stock after buying an additional 165 shares during the quarter. Markel Group accounts for about 1.5% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 10th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Markel Group were worth $28,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MKL. Gilbert & Cook Inc. raised its stake in shares of Markel Group by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 529 shares of the insurance provider’s stock worth $751,000 after purchasing an additional 28 shares during the last quarter. Norges Bank purchased a new position in shares of Markel Group in the fourth quarter worth $214,216,000. Coldstream Capital Management Inc. purchased a new position in shares of Markel Group in the fourth quarter worth $388,000. D.A. Davidson & CO. raised its stake in shares of Markel Group by 1.5% in the fourth quarter. D.A. Davidson & CO. now owns 2,111 shares of the insurance provider’s stock worth $2,997,000 after purchasing an additional 32 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Markel Group by 220.9% in the fourth quarter. Corient Private Wealth LLC now owns 5,862 shares of the insurance provider’s stock worth $8,323,000 after purchasing an additional 4,035 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MKL. Citigroup upped their price objective on Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. TD Cowen began coverage on Markel Group in a research report on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1,626.83.

Markel Group Stock Performance

NYSE:MKL opened at $1,584.66 on Friday. The stock has a 50-day simple moving average of $1,566.36 and a two-hundred day simple moving average of $1,552.16. Markel Group Inc. has a 52-week low of $1,295.65 and a 52-week high of $1,670.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $20.61 billion, a PE ratio of 8.56 and a beta of 0.73.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $20.76 by $5.19. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.86 billion. Analysts forecast that Markel Group Inc. will post 89.1 EPS for the current year.

Insider Buying and Selling at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham acquired 20 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $1,512.50 per share, with a total value of $30,250.00. Following the completion of the purchase, the director now directly owns 743 shares in the company, valued at approximately $1,123,787.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.71% of the stock is currently owned by corporate insiders.

Markel Group 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.