Allstate Corp Invests $739,000 in Markel Group Inc. (NYSE:MKL)

Allstate Corp purchased a new stake in Markel Group Inc. (NYSE:MKL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 428 shares of the insurance provider’s stock, valued at approximately $739,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Markel Group by 1.8% in the 3rd quarter. Bank of Montreal Can now owns 3,697 shares of the insurance provider’s stock valued at $5,801,000 after acquiring an additional 66 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Markel Group by 3,729.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,896 shares of the insurance provider’s stock valued at $23,366,000 after purchasing an additional 14,507 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Markel Group during the third quarter worth about $762,000. Chevy Chase Trust Holdings LLC boosted its position in shares of Markel Group by 16.8% in the third quarter. Chevy Chase Trust Holdings LLC now owns 515 shares of the insurance provider’s stock worth $808,000 after buying an additional 74 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Markel Group by 176.1% in the third quarter. Holocene Advisors LP now owns 2,811 shares of the insurance provider’s stock valued at $4,409,000 after buying an additional 1,793 shares in the last quarter. 77.12% of the stock is owned by institutional investors and hedge funds.

Markel Group Trading Up 0.6 %

MKL opened at $1,867.00 on Tuesday. The stock has a market capitalization of $23.84 billion, a PE ratio of 9.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a 12-month low of $1,417.65 and a 12-month high of $2,063.68. The firm’s fifty day moving average price is $1,867.54 and its 200 day moving average price is $1,732.85.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 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, research analysts expect that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKL. TD Cowen lowered Markel Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Markel Group from $1,750.00 to $2,025.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,702.20.

Insider Activity

In other Markel Group news, CEO Thomas Sinnickson Gayner acquired 100 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $2,008.01 per share, with a total value of $200,801.00. Following the transaction, the chief executive officer now directly owns 48,945 shares in the company, valued at approximately $98,282,049.45. This represents a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Markel sold 800 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $1,856.80, for a total transaction of $1,485,440.00. Following the sale, the director now owns 64,868 shares in the company, valued at approximately $120,446,902.40. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,034 shares of company stock worth $3,778,952. 1.71% of the stock is currently owned by insiders.

Markel Group 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.