Allstate Corp Acquires Shares of 428 Markel Group Inc. (NYSE:MKL)

Allstate Corp bought a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 428 shares of the insurance provider's stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in Markel Group in the 4th quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of Markel Group in the fourth quarter valued at about $36,000. Global Trust Asset Management LLC purchased a new position in shares of Markel Group in the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB purchased a new position in Markel Group in the 3rd quarter worth approximately $42,000. Finally, Quarry LP lifted its position in Markel Group by 3,000.0% during the third quarter. Quarry LP now owns 31 shares of the insurance provider's stock worth $49,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Insider Activity

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

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Wall Street Analysts Forecast Growth

MKL has been the subject of several research analyst reports. StockNews.com lowered shares of Markel Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada increased their target price on Markel Group from $1,750.00 to $2,025.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $1,702.20.

Markel Group Stock Down 2.7 %

Shares of NYSE MKL traded down $50.76 during midday trading on Thursday, hitting $1,828.18. 48,644 shares of the company's stock were exchanged, compared to its average volume of 47,372. The company has a market cap of $23.35 billion, a PE ratio of 9.18 and a beta of 0.82. Markel Group Inc. has a twelve month low of $1,417.65 and a twelve month high of $2,063.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The firm's fifty day simple moving average is $1,870.34 and its 200-day simple moving average is $1,735.98.

Markel Group (NYSE:MKL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a return on equity of 7.55% and a net margin of 16.34%. Research analysts predict that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

About Markel Group

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.