Renaissance Technologies LLC Acquires 4,980 Shares of Markel Group Inc. (NYSE:MKL)

Renaissance Technologies LLC lifted its holdings in Markel Group Inc. (NYSE:MKL) by 38.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,781 shares of the insurance provider’s stock after purchasing an additional 4,980 shares during the period. Renaissance Technologies LLC owned 0.14% of Markel Group worth $28,017,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new position in Markel Group during the second quarter valued at about $487,000. Dimensional Fund Advisors LP boosted its holdings in Markel Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 113,556 shares of the insurance provider’s stock valued at $178,931,000 after purchasing an additional 5,310 shares in the last quarter. Quilter Plc boosted its holdings in shares of Markel Group by 12.5% in the 2nd quarter. Quilter Plc now owns 27,897 shares of the insurance provider’s stock worth $43,956,000 after acquiring an additional 3,104 shares in the last quarter. Rathbones Group PLC lifted its holdings in Markel Group by 15.8% during the 2nd quarter. Rathbones Group PLC now owns 761 shares of the insurance provider’s stock worth $1,199,000 after buying an additional 104 shares in the last quarter. Finally, Poehling Capital Management INC. lifted its holdings in Markel Group by 3.5% during the 2nd quarter. Poehling Capital Management INC. now owns 12,264 shares of the insurance provider’s stock worth $19,324,000 after buying an additional 411 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence A. Cunningham bought 20 shares of Markel Group stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $1,512.50 per share, with a total value of $30,250.00. Following the purchase, the director now owns 743 shares in the company, valued at $1,123,787.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.71% of the company’s stock.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,584.66 on Friday. The firm has a market cap of $20.61 billion, a PE ratio of 8.56 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. Markel Group Inc. has a 1-year low of $1,295.65 and a 1-year high of $1,670.24. The company has a fifty day moving average price of $1,566.36 and a 200 day moving average price of $1,552.16.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share for the quarter, topping analysts’ consensus estimates of $20.76 by $5.19. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.86 billion. Markel Group had a net margin of 13.00% and a return on equity of 11.12%. Research analysts predict that Markel Group Inc. will post 89.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup upped their target price on shares of 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 assumed coverage on shares of Markel Group in a research report on Tuesday, July 9th. They issued 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 issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Markel Group has a consensus rating of “Hold” and a consensus target price of $1,626.83.

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.