Needham Investment Management LLC Has $13.38 Million Stake in Markel Group Inc. $MKL

Needham Investment Management LLC raised its holdings in Markel Group Inc. (NYSE:MKL) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,225 shares of the insurance provider’s stock after purchasing an additional 450 shares during the quarter. Needham Investment Management LLC’s holdings in Markel Group were worth $13,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Markel Group by 13.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 97,923 shares of the insurance provider’s stock valued at $211,172,000 after acquiring an additional 11,439 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Markel Group by 6.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,484 shares of the insurance provider’s stock worth $26,595,000 after purchasing an additional 732 shares during the period. Ervin Investment Management LLC increased its position in shares of Markel Group by 259.2% in the fourth quarter. Ervin Investment Management LLC now owns 9,110 shares of the insurance provider’s stock worth $19,583,000 after purchasing an additional 6,574 shares during the period. Southeast Asset Advisors LLC raised its stake in Markel Group by 26.8% in the third quarter. Southeast Asset Advisors LLC now owns 2,575 shares of the insurance provider’s stock valued at $4,922,000 after purchasing an additional 545 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Markel Group by 77.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,552 shares of the insurance provider’s stock worth $3,336,000 after buying an additional 679 shares in the last quarter. 77.12% of the stock is owned by institutional investors.

Markel Group Price Performance

Shares of NYSE:MKL opened at $1,858.95 on Tuesday. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 13.40 and a beta of 0.67. The firm has a 50 day simple moving average of $1,865.32 and a 200 day simple moving average of $1,988.10.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share (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 $3.55 billion for the quarter, compared to analyst estimates of $3.66 billion. Research analysts predict that Markel Group Inc. will post 113.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 76 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the sale, the director owned 645 shares in the company, valued at $1,191,514.95. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Diane Leopold bought 50 shares of the stock in a transaction on Thursday, May 7th. The stock was purchased at an average cost of $1,789.19 per share, with a total value of $89,459.50. Following the acquisition, the director owned 550 shares in the company, valued at approximately $984,054.50. This represents a 10.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial decreased their target price on shares of Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Wall Street Zen lowered shares of Markel Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 2nd. Brean Capital assumed coverage on shares of Markel Group in a research report on Tuesday, March 24th. They set a “neutral” rating and a $2,100.00 price objective for the company. Finally, Weiss Ratings cut Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2,025.00.

Markel Group Profile

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.