Pilgrim Partners Asia Pte Ltd Invests $1.90 Million in Markel Group Inc. (NYSE:MKL)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Markel Group Inc. (NYSE:MKL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,100 shares of the insurance provider's stock, valued at approximately $1,899,000. Markel Group comprises 1.7% of Pilgrim Partners Asia Pte Ltd's investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors have also modified their holdings of MKL. SBI Securities Co. Ltd. purchased a new position in shares of Markel Group in the fourth quarter valued at $36,000. FPC Investment Advisory Inc. bought a new position in Markel Group in the 4th quarter worth about $37,000. Global Trust Asset Management LLC bought a new stake in shares of Markel Group during the fourth quarter valued at about $41,000. Wilmington Savings Fund Society FSB bought a new position in shares of Markel Group in the third quarter valued at approximately $42,000. Finally, Quarry LP raised its stake in shares of Markel Group by 3,000.0% in the 3rd 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. 77.12% of the stock is owned by institutional investors and hedge funds.

Markel Group Price Performance

NYSE:MKL traded down $48.70 on Thursday, hitting $1,741.92. The company had a trading volume of 18,108 shares, compared to its average volume of 64,138. The firm has a 50 day moving average of $1,858.52 and a two-hundred day moving average of $1,742.72. Markel Group Inc. has a 52 week low of $1,417.65 and a 52 week high of $2,063.68. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.75 and a beta of 0.70. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26.

Remove Ads

Markel Group (NYSE:MKL - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share 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%. On average, research analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MKL. StockNews.com lowered Markel Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada lifted their price objective 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $1,702.20.

Insider Buying and Selling

In other Markel Group news, CEO Thomas Sinnickson Gayner purchased 100 shares of Markel Group stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the transaction, the chief executive officer now owns 48,945 shares in the company, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Markel sold 800 shares of the firm'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 completion of the transaction, the director now owns 64,868 shares of the company's stock, valued at approximately $120,446,902.40. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,034 shares of company stock valued at $3,778,952. 1.71% of the stock is 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.