American Century Companies Inc. Grows Position in Markel Group Inc. $MKL

Key Points

• American Century Companies Inc. increased its stake in Markel Group Inc. by 50.3%, owning 23,952 shares valued at approximately $44.78 million as of the last SEC filing.
• Analysts recently upgraded Markel Group's rating from "hold" to "buy," reflecting growing confidence in the company's prospects, with an average price target of $1,820.33.
• Markel Group reported strong quarterly earnings, with an EPS of $25.46, exceeding analysts' expectations, and revenue growth of 24.3% year-over-year.

American Century Companies Inc. raised its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,952 shares of the insurance provider's stock after purchasing an additional 8,014 shares during the quarter. American Century Companies Inc. owned approximately 0.19% of Markel Group worth $44,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Markel Group during the first quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Markel Group by 183.3% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 11 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Markel Group during the first quarter valued at about $32,000. ST Germain D J Co. Inc. lifted its holdings in Markel Group by 300.0% during the first quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its holdings in Markel Group by 866.7% during the fourth quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock valued at $50,000 after purchasing an additional 26 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Argus raised shares of Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Markel Group has a consensus rating of "Hold" and an average price target of $1,820.33.

Markel Group Trading Up 0.8%

Shares of Markel Group stock opened at $1,970.3880 on Thursday. Markel Group Inc. has a 12-month low of $1,494.00 and a 12-month high of $2,075.92. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 11.82 and a beta of 0.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The company's 50-day moving average price is $1,974.34 and its 200-day moving average price is $1,900.10.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm posted $18.62 earnings per share. The company's revenue for the quarter was up 24.3% on a year-over-year basis. On average, equities analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 90 shares of the firm'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 value of $167,529.60. Following the sale, the director directly owned 632 shares of the company's stock, valued at $1,176,430.08. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.66% of the stock is owned by corporate insiders.

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.

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