Pilgrim Partners Asia Pte Ltd Buys New Shares in Markel Group Inc. (NYSE:MKL)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Markel Group Inc. (NYSE:MKL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,100 shares of the insurance provider’s stock, valued at approximately $1,899,000. Markel Group comprises approximately 1.7% of Pilgrim Partners Asia Pte Ltd’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA lifted its stake in Markel Group by 23.1% in the fourth quarter. Private Trust Co. NA now owns 32 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 6 shares during the last quarter. Wellington Shields & Co. LLC boosted its stake in Markel Group by 4.3% in the 4th quarter. Wellington Shields & Co. LLC now owns 145 shares of the insurance provider’s stock worth $250,000 after purchasing an additional 6 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Markel Group by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 428 shares of the insurance provider’s stock worth $739,000 after acquiring an additional 7 shares during the period. Greenleaf Trust lifted its holdings in Markel Group by 3.4% during the fourth quarter. Greenleaf Trust now owns 213 shares of the insurance provider’s stock valued at $368,000 after purchasing an additional 7 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Markel Group by 1.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 469 shares of the insurance provider’s stock worth $810,000 after acquiring an additional 7 shares during the period. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Markel Group Stock Down 5.8 %

Shares of MKL opened at $1,721.17 on Friday. The stock’s 50-day moving average price is $1,868.94 and its 200-day moving average price is $1,737.63. Markel Group Inc. has a 52 week low of $1,417.65 and a 52 week high of $2,063.68. The company has a market capitalization of $21.98 billion, a price-to-earnings ratio of 8.65 and a beta of 0.82. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. On average, sell-side analysts predict that Markel Group Inc. will post 96.25 EPS for the current year.

Insider Activity at Markel Group

In other Markel Group news, Director Steven A. Markel sold 88 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $1,860.03, for a total value of $163,682.64. Following the transaction, the director now directly owns 63,436 shares of the company’s stock, valued at approximately $117,992,863.08. The trade was a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Sinnickson Gayner bought 100 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the purchase, the chief executive officer now owns 48,945 shares in the company, valued at approximately $98,282,049.45. This represents a 0.20 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,034 shares of company stock worth $3,778,952. Company insiders own 1.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in 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. StockNews.com downgraded 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, Markel Group has an average rating of “Hold” and a consensus price target 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.