Summit Global Investments Purchases Shares of 463 Markel Group Inc. (NYSE:MKL)

Summit Global Investments bought a new stake in Markel Group Inc. (NYSE:MKL - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 463 shares of the insurance provider's stock, valued at approximately $726,000.

Several other hedge funds also recently modified their holdings of MKL. Toth Financial Advisory Corp increased its stake in Markel Group by 1,000.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider's stock valued at $35,000 after buying an additional 20 shares during the last quarter. UMB Bank n.a. increased its position in shares of Markel Group by 833.3% during the third quarter. UMB Bank n.a. now owns 28 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 25 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Markel Group during the second quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Markel Group in the second quarter worth $55,000. Finally, Cubist Systematic Strategies LLC bought a new position in Markel Group in the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Price Performance

NYSE MKL traded up $14.60 on Friday, hitting $1,650.74. The stock had a trading volume of 40,707 shares, compared to its average volume of 48,415. The firm has a 50-day moving average of $1,569.99 and a 200-day moving average of $1,573.63. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 7.61 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. Markel Group Inc. has a 52-week low of $1,325.00 and a 52-week high of $1,675.51.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $17.34 EPS for the quarter, missing the consensus estimate of $21.97 by ($4.63). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.74 billion. Equities analysts expect that Markel Group Inc. will post 89.27 EPS for the current year.

Wall Street Analyst Weigh In

MKL has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their target price on Markel Group from $1,700.00 to $1,675.00 and set a "sector perform" rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group increased their target price on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Citigroup lifted their price target on shares of Markel Group from $1,435.00 to $1,450.00 and gave the stock a "sell" rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Markel Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $1,651.83.

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.