Assenagon Asset Management S.A. Buys 2,042 Shares of Markel Group Inc. $MKL

Assenagon Asset Management S.A. boosted its stake in Markel Group Inc. (NYSE:MKL) by 61.8% in the first quarter, HoldingsChannel reports. The firm owned 5,344 shares of the insurance provider’s stock after buying an additional 2,042 shares during the period. Assenagon Asset Management S.A.’s holdings in Markel Group were worth $10,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MKL. Canerector Inc. raised its stake in Markel Group by 191,036.0% during the 3rd quarter. Canerector Inc. now owns 10,703,616 shares of the insurance provider’s stock worth $20,458,463,000 after buying an additional 10,698,016 shares during the period. Norges Bank bought a new stake in shares of Markel Group during the fourth quarter valued at approximately $317,583,000. Select Equity Group L.P. raised its position in shares of Markel Group by 75.9% during 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 period. Davis Selected Advisers raised its position in shares of Markel Group by 11.1% during the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider’s stock worth $892,496,000 after purchasing an additional 41,632 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Markel Group by 3,235.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,316 shares of the insurance provider’s stock worth $54,421,000 after purchasing an additional 24,557 shares in the last quarter. 77.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Diane Leopold bought 50 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was acquired at an average cost of $1,789.19 per share, for a total transaction of $89,459.50. Following the completion of the transaction, the director directly owned 550 shares in the company, valued at $984,054.50. This trade represents a 10.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greta J. Harris sold 76 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the completion of the transaction, the director directly owned 645 shares of the company’s stock, valued at approximately $1,191,514.95. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MKL shares. Weiss Ratings downgraded shares of Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Truist Financial cut their target price on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Brean Capital initiated coverage on shares of Markel Group in a research report on Tuesday, March 24th. They set a “neutral” rating and a $2,100.00 price target for the company. Finally, Wall Street Zen lowered Markel Group from a “buy” rating to a “sell” rating in a report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2,025.00.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,917.83 on Monday. The stock’s 50-day simple moving average is $1,854.73 and its two-hundred day simple moving average is $1,976.22. Markel Group Inc. has a twelve month low of $1,719.41 and a twelve month high of $2,207.59. The firm has a market capitalization of $23.99 billion, a P/E ratio of 13.82 and a beta of 0.67. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.24.

Markel Group (NYSE:MKL) last issued its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). Markel Group had a net margin of 10.85% and a return on equity of 7.90%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.66 billion. As a group, equities analysts anticipate that Markel Group Inc. will post 113.55 EPS for the current fiscal year.

About Markel Group

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.