Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Markel Group Inc. (NYSE:MKL – Free Report) by 3,235.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,316 shares of the insurance provider’s stock after buying an additional 24,557 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Markel Group were worth $54,421,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKL. Valley National Advisers Inc. acquired a new position in Markel Group during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Markel Group during the third quarter worth about $29,000. V Square Quantitative Management LLC acquired a new position in Markel Group during the fourth quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Markel Group by 183.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17 shares of the insurance provider’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. Finally, Kelleher Financial Advisors acquired a new position in shares of Markel Group in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 77.12% of the company’s stock.
Insider Activity at Markel Group
In related news, Director Diane Leopold purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $1,792.61 per share, with a total value of $179,261.00. Following the completion of the transaction, the director owned 2,190 shares of the company’s stock, valued at approximately $3,925,815.90. This trade represents a 4.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Simon Wilson sold 100 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $2,079.48, for a total transaction of $207,948.00. Following the transaction, the chief executive officer directly owned 2,397 shares of the company’s stock, valued at $4,984,513.56. This trade represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.08% of the company’s stock.
Markel Group Stock Performance
Markel Group (NYSE:MKL – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) EPS for the quarter, missing the consensus estimate of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $3.66 billion. Sell-side analysts anticipate that Markel Group Inc. will post 113.02 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on MKL shares. Wall Street Zen lowered shares of Markel Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Markel Group from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Brean Capital started coverage on shares of Markel Group in a research report on Tuesday, March 24th. They issued a “neutral” rating and a $2,100.00 price objective for the company. Truist Financial cut their price objective on shares of Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Finally, Zacks Research lowered shares of Markel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2,025.00.
Check Out Our Latest Report on Markel Group
About Markel Group
Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.
In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.
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