True North Advisors LLC Makes New Investment in Markel Group Inc. (NYSE:MKL)

Key Points

• True North Advisors LLC acquired 2,185 shares of Markel Group Inc. valued at approximately $4,085,000, making it the firm's 28th largest holding in its portfolio.
• Markel Group reported a 24.3% increase in revenue year-over-year, totaling $4.82 billion for its last quarter, and outperformed analysts’ expectations with an EPS of $25.46.
• Institutional investors now own 77.12% of Markel Group's stock, indicating strong institutional interest in the company.

True North Advisors LLC acquired a new stake in Markel Group Inc. (NYSE:MKL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,185 shares of the insurance provider's stock, valued at approximately $4,085,000. Markel Group accounts for 0.7% of True North Advisors LLC's investment portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its stake in shares of Markel Group by 16.7% in the first quarter. Benjamin Edwards Inc. now owns 1,013 shares of the insurance provider's stock valued at $1,894,000 after purchasing an additional 145 shares during the period. Covestor Ltd raised its position in Markel Group by 37.4% during the first quarter. Covestor Ltd now owns 158 shares of the insurance provider's stock worth $296,000 after acquiring an additional 43 shares during the last quarter. Davis Selected Advisers raised its position in Markel Group by 0.3% during the first quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider's stock worth $694,502,000 after acquiring an additional 947 shares during the last quarter. National Bank of Canada FI raised its position in Markel Group by 5.7% during the first quarter. National Bank of Canada FI now owns 2,861 shares of the insurance provider's stock worth $5,338,000 after acquiring an additional 154 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Markel Group by 7.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,030 shares of the insurance provider's stock worth $18,752,000 after acquiring an additional 698 shares during the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Trading Down 0.2%

Shares of NYSE:MKL traded down $4.71 during trading on Monday, reaching $1,905.71. The stock had a trading volume of 35,281 shares, compared to its average volume of 45,734. The business has a fifty day moving average price of $1,973.68 and a 200-day moving average price of $1,895.20. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The stock has a market cap of $24.11 billion, a P/E ratio of 11.43 and a beta of 0.82. Markel Group Inc. has a fifty-two week low of $1,494.00 and a fifty-two week high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm earned $18.62 earnings per share. Markel Group's revenue was up 24.3% compared to the same quarter last year. As a group, analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insider Transactions at Markel Group

In other Markel Group news, Director Greta J. Harris sold 90 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the completion of the sale, the director directly owned 632 shares in the company, valued at $1,176,430.08. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $1,820.33.

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.