Summit Global Investments Invests $726,000 in Markel Group Inc. (NYSE:MKL)

Summit Global Investments purchased a new stake in shares of Markel Group Inc. (NYSE:MKL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 463 shares of the insurance provider’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp grew its stake in shares of Markel Group by 1,000.0% during the third quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. UMB Bank n.a. boosted its holdings in Markel Group by 833.3% during the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 25 shares during the period. 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. purchased a new stake in Markel Group in the second quarter worth $55,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Markel Group during the second quarter worth $65,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKL has been the topic of several recent analyst reports. Royal Bank of Canada reduced 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. Jefferies Financial Group raised their target price on shares of Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded Markel Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Citigroup raised their price objective on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1,651.83.

Markel Group Price Performance

NYSE MKL opened at $1,650.74 on Friday. The firm’s 50 day moving average price is $1,569.99 and its 200-day moving average price is $1,573.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $21.23 billion, a PE ratio of 7.61 and a beta of 0.73. Markel Group Inc. has a 52-week low of $1,325.00 and a 52-week high of $1,675.51.

Markel Group (NYSE:MKL) last announced its quarterly 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). The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Markel Group had a net margin of 17.03% and a return on equity of 10.86%. Sell-side analysts forecast that Markel Group Inc. will post 89.27 EPS for the current fiscal year.

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.