Sprucegrove Investment Management Ltd. Has $28.65 Million Position in Markel Group Inc. (NYSE:MKL)

Sprucegrove Investment Management Ltd. lifted its position in shares of Markel Group Inc. (NYSE:MKL) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,182 shares of the insurance provider’s stock after acquiring an additional 165 shares during the quarter. Markel Group makes up 1.5% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 10th largest position. Sprucegrove Investment Management Ltd. owned approximately 0.14% of Markel Group worth $28,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Markel Group by 6.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 9,884 shares of the insurance provider’s stock worth $15,574,000 after purchasing an additional 558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Markel Group by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider’s stock worth $48,412,000 after purchasing an additional 888 shares during the period. Solitude Financial Services bought a new position in Markel Group in the 2nd quarter worth about $1,182,000. Sei Investments Co. boosted its stake in Markel Group by 41.7% in the 1st quarter. Sei Investments Co. now owns 4,308 shares of the insurance provider’s stock worth $6,554,000 after purchasing an additional 1,268 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Markel Group by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,336 shares of the insurance provider’s stock worth $12,684,000 after purchasing an additional 359 shares during the period. Institutional investors own 77.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MKL shares. TD Cowen started coverage on Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price target on the stock. Citigroup raised their price target on Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $1,626.83.

Insider Transactions 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 bought at an average cost of $1,512.50 per share, for a total transaction of $30,250.00. Following the completion of the transaction, the director now directly owns 743 shares of the company’s stock, valued at approximately $1,123,787.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.71% of the company’s stock.

Markel Group Price Performance

Shares of Markel Group stock opened at $1,584.66 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50 day simple moving average is $1,566.36 and its two-hundred day simple moving average is $1,552.16. The stock has a market capitalization of $20.61 billion, a P/E ratio of 8.56 and a beta of 0.73. Markel Group Inc. has a one year low of $1,295.65 and a one year high of $1,670.24.

Markel Group (NYSE:MKL) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.86 billion. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. Analysts forecast that Markel Group Inc. will post 89.1 EPS for the current year.

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.