Convergence Financial LLC Takes $738,000 Position in Markel Group Inc. $MKL

Convergence Financial LLC purchased a new position in shares of Markel Group Inc. (NYSE:MKL) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 386 shares of the insurance provider’s stock, valued at approximately $738,000.

Other hedge funds also recently added to or reduced their stakes in the company. Select Equity Group L.P. lifted its stake 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 purchasing an additional 145,146 shares during the last quarter. Norges Bank bought a new position in shares of Markel Group during the second quarter valued at approximately $288,361,000. Rakuten Investment Management Inc. purchased a new stake in shares of Markel Group in the third quarter worth approximately $46,738,000. Principal Financial Group Inc. lifted its stake in shares of Markel Group by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 547,188 shares of the insurance provider’s stock worth $1,045,947,000 after acquiring an additional 9,496 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Markel Group by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,167,813 shares of the insurance provider’s stock valued at $2,332,543,000 after acquiring an additional 9,303 shares during the period. 77.12% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Simon Wilson sold 75 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $2,072.94, for a total transaction of $155,470.50. Following the completion of the transaction, the chief executive officer owned 1,770 shares in the company, valued at $3,669,103.80. The trade was a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven A. Markel sold 1,330 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,119.12, for a total transaction of $2,818,429.60. Following the sale, the director directly owned 60,368 shares of the company’s stock, valued at $127,927,036.16. The trade was a 2.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,575 shares of company stock valued at $3,330,900. Insiders own 1.66% of the company’s stock.

Markel Group Trading Up 0.6%

Shares of NYSE MKL opened at $2,080.98 on Friday. Markel Group Inc. has a 1-year low of $1,621.89 and a 1-year high of $2,207.59. The business has a fifty day moving average price of $2,102.14 and a 200 day moving average price of $2,016.00. The stock has a market capitalization of $26.24 billion, a P/E ratio of 12.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.60 and a quick ratio of 0.60.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MKL. Zacks Research lowered Markel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Truist Financial upped their price target on shares of Markel Group from $2,000.00 to $2,100.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Markel Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Markel Group has an average rating of “Hold” and a consensus price target of $2,100.00.

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.