Allstate Corp Takes $739,000 Position in Markel Group Inc. (NYSE:MKL)

Allstate Corp acquired a new position in Markel Group Inc. (NYSE:MKL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 428 shares of the insurance provider’s stock, valued at approximately $739,000.

Several other hedge funds have also recently bought and sold shares of MKL. Bank of Montreal Can increased its stake in shares of Markel Group by 1.8% in the third quarter. Bank of Montreal Can now owns 3,697 shares of the insurance provider’s stock valued at $5,801,000 after purchasing an additional 66 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Markel Group by 3,729.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,896 shares of the insurance provider’s stock worth $23,366,000 after buying an additional 14,507 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in Markel Group in the 3rd quarter valued at approximately $762,000. Chevy Chase Trust Holdings LLC increased its position in Markel Group by 16.8% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 515 shares of the insurance provider’s stock valued at $808,000 after acquiring an additional 74 shares during the period. Finally, Holocene Advisors LP raised its stake in Markel Group by 176.1% during the 3rd quarter. Holocene Advisors LP now owns 2,811 shares of the insurance provider’s stock valued at $4,409,000 after acquiring an additional 1,793 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,867.00 on Tuesday. Markel Group Inc. has a twelve month low of $1,417.65 and a twelve month high of $2,063.68. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $1,867.54 and a two-hundred day moving average of $1,732.85. The company has a market capitalization of $23.84 billion, a price-to-earnings ratio of 9.38 and a beta of 0.82.

Markel Group (NYSE:MKL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $20.51 EPS for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. As a group, analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insider Transactions at Markel Group

In related news, Director Steven A. Markel sold 1,146 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,858.49, for a total value of $2,129,829.54. Following the completion of the transaction, the director now owns 63,722 shares in the company, valued at $118,426,699.78. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average price of $2,008.01 per share, for a total transaction of $200,801.00. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders sold a total of 2,034 shares of company stock valued at $3,778,952 in the last three months. 1.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MKL shares. Royal Bank of Canada raised their price target on Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. TD Cowen cut shares of Markel Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. Finally, StockNews.com lowered shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1,702.20.

Markel Group 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.