Markel Group Inc. (NYSE:MKL) Stake Boosted by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its stake in Markel Group Inc. (NYSE:MKL) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 9,124 shares of the insurance provider’s stock after purchasing an additional 69 shares during the quarter. Smith Salley Wealth Management’s holdings in Markel Group were worth $15,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HB Wealth Management LLC increased its position in Markel Group by 6.3% in the 4th quarter. HB Wealth Management LLC now owns 629 shares of the insurance provider’s stock worth $1,086,000 after purchasing an additional 37 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Markel Group in the 4th quarter valued at approximately $219,000. Chemistry Wealth Management LLC increased its holdings in Markel Group by 7.2% in the fourth quarter. Chemistry Wealth Management LLC now owns 2,773 shares of the insurance provider’s stock worth $4,787,000 after buying an additional 186 shares during the last quarter. Empirical Asset Management LLC bought a new position in Markel Group during the fourth quarter valued at approximately $54,173,000. Finally, Carnegie Investment Counsel acquired a new stake in Markel Group in the fourth quarter valued at approximately $207,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Markel Group Stock Performance

Shares of NYSE MKL opened at $1,776.14 on Friday. Markel Group Inc. has a 12 month low of $1,342.66 and a 12 month high of $1,809.11. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. The company has a market cap of $22.84 billion, a P/E ratio of 8.19 and a beta of 0.78. The business’s 50 day moving average is $1,727.94 and its two-hundred day moving average is $1,624.04.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $21.97 by ($4.63). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.74 billion. On average, equities analysts expect that Markel Group Inc. will post 86.92 EPS for the current year.

Analysts Set New Price Targets

MKL has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of 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. StockNews.com upgraded Markel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 30th. TD Cowen downgraded Markel Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. 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, the stock presently has a consensus rating of “Hold” and an average target price 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.