Sprucegrove Investment Management Ltd. Reduces Stock Position in Markel Group Inc. $MKL

Sprucegrove Investment Management Ltd. lowered its stake in shares of Markel Group Inc. (NYSE:MKL) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,189 shares of the insurance provider’s stock after selling 437 shares during the quarter. Markel Group accounts for 2.0% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Sprucegrove Investment Management Ltd. owned 0.10% of Markel Group worth $24,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Check Capital Management Inc. CA increased its position in shares of Markel Group by 2.5% during the first quarter. Check Capital Management Inc. CA now owns 79,086 shares of the insurance provider’s stock valued at $147,860,000 after acquiring an additional 1,921 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new stake in shares of Markel Group during the 1st quarter valued at $267,000. Weil Company Inc. raised its stake in shares of Markel Group by 16.2% during the 1st quarter. Weil Company Inc. now owns 1,699 shares of the insurance provider’s stock worth $3,176,000 after purchasing an additional 237 shares during the period. OLD National Bancorp IN purchased a new position in shares of Markel Group in the 2nd quarter worth about $310,000. Finally, Envestnet Asset Management Inc. grew its position in Markel Group by 14.0% during the first quarter. Envestnet Asset Management Inc. now owns 48,870 shares of the insurance provider’s stock valued at $91,368,000 after buying an additional 5,984 shares during the period. 77.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKL has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Markel Group in a research report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Markel Group in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1,930.50.

Markel Group Stock Performance

Shares of MKL stock opened at $1,996.46 on Thursday. The firm’s 50 day moving average is $1,926.82 and its 200 day moving average is $1,932.68. The stock has a market capitalization of $25.18 billion, a P/E ratio of 12.50 and a beta of 0.77. Markel Group Inc. has a 12 month low of $1,597.21 and a 12 month high of $2,075.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $22.77 by $8.13. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.77 billion. Markel Group had a return on equity of 7.91% and a net margin of 12.99%. On average, sell-side analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current year.

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.