Summit Global Investments Invests $726,000 in Markel Group Inc. (NYSE:MKL)

Summit Global Investments acquired a new position in Markel Group Inc. (NYSE:MKL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 463 shares of the insurance provider’s stock, valued at approximately $726,000.

A number of other institutional investors have also recently made changes to their positions in MKL. Assenagon Asset Management S.A. raised its stake in Markel Group by 6.0% in the second quarter. Assenagon Asset Management S.A. now owns 9,884 shares of the insurance provider’s stock valued at $15,574,000 after buying an additional 558 shares during the last quarter. Solitude Financial Services acquired a new stake in Markel Group in the 2nd quarter worth approximately $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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in Markel Group by 4.5% during 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 last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in Markel Group by 89.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 835 shares of the insurance provider’s stock valued at $1,270,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company’s stock.

Markel Group Stock Performance

NYSE MKL opened at $1,650.74 on Friday. The firm has a market capitalization of $21.23 billion, a P/E ratio of 7.61 and a beta of 0.73. The stock has a 50-day simple moving average of $1,569.99 and a two-hundred day simple moving average of $1,573.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. Markel Group Inc. has a fifty-two week low of $1,325.00 and a fifty-two week high of $1,675.51.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share for the quarter, missing the consensus estimate of $21.97 by ($4.63). Markel Group had a net margin of 17.03% and a return on equity of 10.86%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.74 billion. On average, equities analysts forecast that Markel Group Inc. will post 89.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MKL shares. StockNews.com raised shares of Markel Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price target on Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Citigroup raised their price objective on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their target price on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,651.83.

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.