Allspring Global Investments Holdings LLC Acquires 1,223 Shares of Markel Group Inc. (NYSE:MKL)

Allspring Global Investments Holdings LLC grew its holdings in shares of Markel Group Inc. (NYSE:MKL) by 136.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,119 shares of the insurance provider’s stock after buying an additional 1,223 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Markel Group were worth $3,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Davis Selected Advisers lifted its holdings in Markel Group by 0.3% during the second quarter. Davis Selected Advisers now owns 287,061 shares of the insurance provider’s stock worth $452,311,000 after buying an additional 970 shares during the period. Boston Partners raised its stake in shares of Markel Group by 36.7% during the 1st quarter. Boston Partners now owns 214,400 shares of the insurance provider’s stock valued at $326,124,000 after buying an additional 57,528 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Markel Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 113,556 shares of the insurance provider’s stock valued at $178,931,000 after buying an additional 5,310 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Markel Group by 4.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 85,464 shares of the insurance provider’s stock valued at $129,441,000 after purchasing an additional 3,560 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in Markel Group by 15.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 85,247 shares of the insurance provider’s stock worth $134,320,000 after buying an additional 11,357 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Markel Group Stock Up 0.9 %

Shares of NYSE MKL opened at $1,564.00 on Tuesday. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,670.24. The firm’s 50 day moving average price is $1,568.28 and its 200 day moving average price is $1,564.86. The firm has a market cap of $20.34 billion, a P/E ratio of 8.48 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share for the quarter, beating analysts’ consensus estimates of $20.76 by $5.19. The company had revenue of $3.83 billion for 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%. As a group, sell-side analysts anticipate that Markel Group Inc. will post 91.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKL. Citigroup boosted their target price on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Jefferies Financial Group upped their price target on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, TD Cowen started coverage on Markel Group in a research report on Tuesday, July 9th. They set a “buy” rating and a $1,986.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1,643.50.

Insider Activity at Markel Group

In other news, Director Lawrence A. Cunningham purchased 20 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $1,512.50 per share, with a total value of $30,250.00. Following the purchase, the director now directly owns 743 shares of the company’s stock, valued at approximately $1,123,787.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.71% of the company’s stock.

Markel Group Company 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.