CIBC Asset Management Inc Increases Stake in Markel Group Inc. (NYSE:MKL)

CIBC Asset Management Inc boosted its stake in shares of Markel Group Inc. (NYSE:MKL) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 532 shares of the insurance provider’s stock after acquiring an additional 62 shares during the quarter. CIBC Asset Management Inc’s holdings in Markel Group were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Gold Investment Management Ltd. raised its position in Markel Group by 0.6% during the third quarter. Gold Investment Management Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $1,912,000 after acquiring an additional 7 shares in the last quarter. Gilbert & Cook Inc. raised its position in Markel Group by 1.7% during the fourth quarter. Gilbert & Cook Inc. now owns 428 shares of the insurance provider’s stock valued at $739,000 after acquiring an additional 7 shares in the last quarter. Greenleaf Trust raised its position in Markel Group by 3.4% during the fourth quarter. Greenleaf Trust now owns 213 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 7 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in Markel Group by 1.1% during the third quarter. Hunter Associates Investment Management LLC now owns 745 shares of the insurance provider’s stock valued at $1,170,000 after acquiring an additional 8 shares in the last quarter. Finally, Financial Advocates Investment Management raised its position in Markel Group by 3.2% during the third quarter. Financial Advocates Investment Management now owns 259 shares of the insurance provider’s stock valued at $406,000 after acquiring an additional 8 shares in the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Cowen lowered Markel Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Royal Bank of Canada raised their price objective on Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Finally, StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,685.17.

Markel Group Stock Performance

Shares of NYSE:MKL opened at $1,837.64 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50 day moving average price is $1,793.51 and its 200-day moving average price is $1,674.40. The firm has a market capitalization of $23.64 billion, a PE ratio of 9.23 and a beta of 0.78. Markel Group Inc. has a 1 year low of $1,417.65 and a 1 year high of $2,063.68.

Markel Group (NYSE:MKL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a return on equity of 7.55% and a net margin of 16.34%. As a group, equities research analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insider Transactions at Markel Group

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the stock in a transaction on Friday, February 7th. The shares were bought at an average price of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the purchase, the chief executive officer now owns 48,945 shares of the company’s stock, valued at approximately $98,282,049.45. This represents a 0.20 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.