Wedge Capital Management L L P NC Has $16.18 Million Stock Position in Markel Group Inc. (NYSE:MKL)

Wedge Capital Management L L P NC boosted its stake in shares of Markel Group Inc. (NYSE:MKL) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 10,314 shares of the insurance provider’s stock after acquiring an additional 46 shares during the period. Wedge Capital Management L L P NC’s holdings in Markel Group were worth $16,178,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in shares of Markel Group by 833.3% during the third quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 25 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Markel Group in the 2nd quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Markel Group in the 2nd quarter valued at $55,000. GAMMA Investing LLC raised its position in shares of Markel Group by 90.0% during the first quarter. GAMMA Investing LLC now owns 38 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 18 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Markel Group during the second quarter valued at $65,000. 77.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence A. Cunningham acquired 20 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $1,512.50 per share, with a total value of $30,250.00. Following the transaction, the director now owns 743 shares of the company’s stock, valued at $1,123,787.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.71% of the stock is owned by company insiders.

Markel Group Trading Down 0.3 %

Markel Group stock traded down $4.30 during midday trading on Monday, hitting $1,552.88. 7,087 shares of the stock were exchanged, compared to its average volume of 42,003. The stock has a market capitalization of $20.19 billion, a PE ratio of 8.41 and a beta of 0.73. The company has a fifty day simple moving average of $1,557.14 and a two-hundred day simple moving average of $1,559.73. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. Markel Group Inc. has a 52 week low of $1,295.65 and a 52 week high of $1,670.24.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $20.76 by $5.19. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. Equities research analysts anticipate that Markel Group Inc. will post 89.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on MKL shares. TD Cowen assumed coverage on Markel Group in a research report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price objective for the company. Citigroup lifted 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 report on Tuesday, July 23rd. Jefferies Financial Group boosted their price target 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. Finally, StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Markel Group has an average rating of “Hold” and a consensus target price of $1,643.50.

Markel Group Company 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.