Gateway Investment Advisers LLC Boosts Holdings in Markel Group Inc. (NYSE:MKL)

Gateway Investment Advisers LLC grew its position in Markel Group Inc. (NYSE:MKL) by 19.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,486 shares of the insurance provider’s stock after buying an additional 740 shares during the period. Gateway Investment Advisers LLC’s holdings in Markel Group were worth $7,068,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MKL. Norges Bank purchased a new stake in shares of Markel Group in the 4th quarter valued at approximately $214,216,000. Boston Partners boosted its position in shares of Markel Group by 400.1% during the 4th quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after purchasing an additional 125,507 shares during the period. Global Assets Advisory LLC acquired a new stake in Markel Group in the 1st quarter valued at approximately $133,143,000. Jennison Associates LLC raised its position in Markel Group by 111.3% in the fourth quarter. Jennison Associates LLC now owns 77,995 shares of the insurance provider’s stock valued at $110,745,000 after purchasing an additional 41,086 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in Markel Group during the first quarter worth $60,937,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Up 0.6 %

Shares of NYSE MKL traded up $8.49 during midday trading on Friday, hitting $1,521.92. The company’s stock had a trading volume of 22,350 shares, compared to its average volume of 45,196. The business’s fifty day simple moving average is $1,572.96 and its two-hundred day simple moving average is $1,532.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.61. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,670.24. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 8.22 and a beta of 0.73.

Insider Activity at Markel Group

In related news, Director Steven A. Markel sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total value of $4,915,170.00. Following the sale, the director now owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lawrence A. Cunningham acquired 20 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $1,512.50 per share, with a total value of $30,250.00. Following the completion of the acquisition, the director now owns 743 shares in the company, valued at $1,123,787.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Markel sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the sale, the director now directly owns 66,668 shares in the company, valued at approximately $109,228,184.52. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MKL shares. TD Cowen began coverage on Markel Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price objective for the company. Citigroup boosted 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 research note on Tuesday, July 23rd. Truist Financial increased their price target on shares of Markel Group from $1,400.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1,626.83.

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.