Allspring Global Investments Holdings LLC Raises Stock Holdings in Markel Group Inc. (NYSE:MKL)

Allspring Global Investments Holdings LLC increased its stake in shares of Markel Group Inc. (NYSE:MKL) by 616.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,219 shares of the insurance provider’s stock after purchasing an additional 3,630 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Markel Group were worth $5,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Markel Group in the first quarter worth about $148,000. American Century Companies Inc. boosted its holdings in Markel Group by 11.9% in the first quarter. American Century Companies Inc. now owns 628 shares of the insurance provider’s stock worth $926,000 after acquiring an additional 67 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Markel Group in the first quarter worth about $549,000. Rhumbline Advisers boosted its holdings in Markel Group by 2.7% in the first quarter. Rhumbline Advisers now owns 11,913 shares of the insurance provider’s stock worth $17,575,000 after acquiring an additional 308 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Markel Group by 4.7% in the first quarter. Yousif Capital Management LLC now owns 332 shares of the insurance provider’s stock worth $490,000 after acquiring an additional 15 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

MKL has been the subject of several recent analyst reports. Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 price target on shares of Markel Group in a report on Friday, March 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $1,475.00 price objective on shares of Markel Group in a research note on Friday, February 2nd. Finally, Jefferies Financial Group cut Markel Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $1,680.00 to $1,500.00 in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,450.00.

Insider Activity at Markel Group

In related news, Director A. Lynne Puckett purchased 72 shares of Markel Group stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average cost of $1,409.28 per share, for a total transaction of $101,468.16. Following the completion of the transaction, the director now owns 960 shares in the company, valued at $1,352,908.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Markel Group news, CEO Thomas Sinnickson Gayner acquired 100 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $1,414.74 per share, for a total transaction of $141,474.00. Following the completion of the transaction, the chief executive officer now directly owns 45,039 shares of the company’s stock, valued at $63,718,474.86. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Lynne Puckett acquired 72 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average price of $1,409.28 per share, with a total value of $101,468.16. Following the completion of the transaction, the director now directly owns 960 shares of the company’s stock, valued at $1,352,908.80. The disclosure for this purchase can be found here. 1.71% of the stock is owned by company insiders.

Markel Group Stock Up 0.6 %

Shares of MKL stock opened at $1,437.07 on Friday. The stock has a 50 day moving average of $1,482.91 and a 200 day moving average of $1,444.82. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The stock has a market cap of $18.74 billion, a P/E ratio of 9.78 and a beta of 0.70. Markel Group Inc. has a twelve month low of $1,272.43 and a twelve month high of $1,560.00.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share for the quarter, beating the consensus estimate of $23.58 by $32.90. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Markel Group had a return on equity of 11.22% and a net margin of 12.63%. As a group, sell-side analysts expect that Markel Group Inc. will post 80.08 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.