Axxcess Wealth Management LLC Buys 679 Shares of Markel Group Inc. $MKL

Key Points

• Axxcess Wealth Management LLC increased its Markel Group stake by 77.8% in Q4, buying 679 additional shares and bringing its total holding to 1,552 shares worth about $3.34 million.
• Institutional ownership remains high, with 77.12% of Markel Group stock held by institutions, while several other funds also reported meaningful position changes.
• Analyst sentiment is cautious: the stock carries a consensus “Hold” rating and an average target price of $2,025, after recent downgrades and a lower target from Truist Financial.

Axxcess Wealth Management LLC boosted its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 77.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,552 shares of the insurance provider's stock after purchasing an additional 679 shares during the quarter. Axxcess Wealth Management LLC's holdings in Markel Group were worth $3,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Canerector Inc. boosted its position in Markel Group by 191,036.0% during the third quarter. Canerector Inc. now owns 10,703,616 shares of the insurance provider's stock worth $20,458,463,000 after purchasing an additional 10,698,016 shares during the period. Vanguard Group Inc. boosted its position in Markel Group by 0.4% during the third quarter. Vanguard Group Inc. now owns 1,172,997 shares of the insurance provider's stock worth $2,242,020,000 after purchasing an additional 5,184 shares during the period. Principal Financial Group Inc. boosted its position in Markel Group by 1.8% during the third quarter. Principal Financial Group Inc. now owns 547,188 shares of the insurance provider's stock worth $1,045,947,000 after purchasing an additional 9,496 shares during the period. Davis Selected Advisers boosted its position in Markel Group by 11.1% during the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider's stock worth $892,496,000 after purchasing an additional 41,632 shares during the period. Finally, Select Equity Group L.P. boosted its position in Markel Group by 75.9% during the second quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider's stock worth $671,850,000 after purchasing an additional 145,146 shares during the period. 77.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on MKL shares. Brean Capital started 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. Weiss Ratings cut shares of Markel Group from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Truist Financial dropped their target price on Markel Group from $2,100.00 to $1,950.00 and set a "hold" rating for the company in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Markel Group from a "buy" rating to a "sell" rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Markel Group presently has a consensus rating of "Hold" and a consensus target price of $2,025.00.

Insiders Place Their Bets

In related news, CEO Simon Wilson sold 100 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $2,079.48, for a total value of $207,948.00. Following the completion of the transaction, the chief executive officer owned 2,397 shares of the company's stock, valued at $4,984,513.56. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Leopold purchased 50 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was bought at an average cost of $1,789.19 per share, with a total value of $89,459.50. Following the purchase, the director owned 550 shares of the company's stock, valued at $984,054.50. This represents a 10.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.08% of the stock is currently owned by company insiders.

Markel Group Stock Up 0.1%

MKL opened at $1,859.46 on Monday. Markel Group Inc. has a fifty-two week low of $1,719.41 and a fifty-two week high of $2,207.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $23.26 billion, a P/E ratio of 13.40 and a beta of 0.67. The stock has a fifty day moving average of $1,892.47 and a 200-day moving average of $2,013.16.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share for the quarter, missing analysts' consensus estimates of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.66 billion. On average, equities analysts expect that Markel Group Inc. will post 111.93 EPS for the current year.

About Markel Group

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.

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