Gabelli Funds LLC Acquires New Shares in Markel Group Inc. (NYSE:MKL)

Gabelli Funds LLC bought a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 764 shares of the insurance provider's stock, valued at approximately $1,319,000.

A number of other hedge funds have also made changes to their positions in the stock. Davis Selected Advisers lifted its holdings in Markel Group by 27.9% during the 4th quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider's stock worth $639,606,000 after buying an additional 80,922 shares during the last quarter. Boston Partners boosted its holdings in shares of Markel Group by 17.6% in the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider's stock valued at $486,580,000 after buying an additional 42,178 shares during the period. Norges Bank acquired a new position in shares of Markel Group in the 4th quarter valued at about $254,795,000. Proficio Capital Partners LLC bought a new stake in shares of Markel Group during the 4th quarter valued at about $169,852,000. Finally, Barr E S & Co. raised its stake in Markel Group by 2.5% during the fourth quarter. Barr E S & Co. now owns 80,853 shares of the insurance provider's stock worth $139,571,000 after acquiring an additional 1,957 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MKL shares. 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 report on Friday, February 7th. StockNews.com cut shares of Markel Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $1,702.20.

Markel Group Price Performance

NYSE:MKL traded up $12.03 during trading hours on Wednesday, reaching $1,797.23. 50,554 shares of the company's stock were exchanged, compared to its average volume of 49,080. The business's 50-day simple moving average is $1,829.95 and its two-hundred day simple moving average is $1,754.99. The company has a market capitalization of $22.84 billion, a P/E ratio of 9.03 and a beta of 0.70. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. Markel Group Inc. has a 12 month low of $1,433.06 and a 12 month high of $2,063.68.

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

Insider Buying and Selling at Markel Group

In other Markel Group news, Director Steven A. Markel sold 800 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $1,856.80, for a total value of $1,485,440.00. Following the transaction, the director now owns 64,868 shares in the company, valued at $120,446,902.40. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Sinnickson Gayner purchased 100 shares of the business's stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the purchase, the chief executive officer now directly owns 48,945 shares in the company, valued at approximately $98,282,049.45. This represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 2,034 shares of company stock valued at $3,778,952 in the last three months. 1.66% of the stock is currently owned by company insiders.

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.