Perigon Wealth Management LLC Makes New $820,000 Investment in Markel Group Inc. $MKL

Perigon Wealth Management LLC bought a new position in Markel Group Inc. (NYSE:MKL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 420 shares of the insurance provider’s stock, valued at approximately $820,000.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Markel Group in the 4th quarter worth about $317,583,000. Select Equity Group L.P. raised its holdings in Markel Group by 75.9% in the second quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider’s stock worth $671,850,000 after buying an additional 145,146 shares during the last quarter. Davis Selected Advisers raised its holdings in Markel Group by 11.1% in the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider’s stock worth $892,496,000 after buying an additional 41,632 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Markel Group in the second quarter worth approximately $68,051,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Markel Group by 3,235.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,316 shares of the insurance provider’s stock worth $54,421,000 after buying an additional 24,557 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Insider Activity

In other news, Director Greta J. Harris sold 76 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the completion of the sale, the director owned 645 shares of the company’s stock, valued at $1,191,514.95. This represents a 10.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.08% of the stock is currently owned by corporate insiders.

Markel Group Stock Up 1.0%

Markel Group stock opened at $1,816.86 on Wednesday. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59. The stock has a fifty day moving average of $1,910.16 and a 200 day moving average of $1,925.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $22.51 billion, a PE ratio of 9.99 and a beta of 0.66.

Wall Street Analyst Weigh In

MKL has been the topic of several recent analyst reports. Weiss Ratings upgraded Markel Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Truist Financial decreased their price target on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Wolfe Research began coverage on Markel Group in a report on Wednesday, July 1st. They set an “underperform” rating on the stock. Finally, Wall Street Zen upgraded Markel Group from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2,025.00.

Markel Group Company Profile

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.