Boyar Asset Management Inc. Increases Holdings in Markel Group Inc. $MKL

Key Points

• Boyar Asset Management Inc. has increased its stake in Markel Group Inc. by 36.6%, acquiring an additional 129 shares during the second quarter, bringing their total holdings to 481 shares worth approximately $961,000.
• Markel Group reported earnings of $25.46 per share for the last quarter, surpassing analyst expectations of $24.74, with revenues of $4.82 billion, a 24.3% increase year-over-year.
• The average consensus target price for Markel Group is $1,820.33, with a mix of ratings from analysts, including two buy and three hold ratings.

Boyar Asset Management Inc. increased its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 36.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 481 shares of the insurance provider's stock after buying an additional 129 shares during the quarter. Boyar Asset Management Inc.'s holdings in Markel Group were worth $961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC raised its position in Markel Group by 0.7% in the first quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC raised its position in Markel Group by 12.7% in the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after purchasing an additional 7 shares during the period. Resonant Capital Advisors LLC raised its position in Markel Group by 1.1% in the first quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock valued at $1,223,000 after purchasing an additional 7 shares during the period. Checchi Capital Advisers LLC raised its position in Markel Group by 5.8% in the first quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 7 shares during the period. Finally, MainStreet Investment Advisors LLC raised its position in Markel Group by 2.3% in the first quarter. MainStreet Investment Advisors LLC now owns 359 shares of the insurance provider's stock valued at $671,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Markel Group in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Markel Group has an average rating of "Hold" and a consensus target price of $1,820.33.

Markel Group Trading Up 1.2%

Shares of NYSE MKL opened at $1,943.85 on Friday. Markel Group Inc. has a twelve month low of $1,521.25 and a twelve month high of $2,075.92. 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 stock has a fifty day simple moving average of $1,943.03 and a 200-day simple moving average of $1,911.77. The stock has a market capitalization of $24.59 billion, a PE ratio of 11.66 and a beta of 0.78.

Markel Group (NYSE:MKL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the previous year, the firm posted $18.62 earnings per share. The company's revenue was up 24.3% on a year-over-year basis. On average, equities analysts forecast that Markel Group Inc. will post 96.25 earnings per share for the current year.

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.

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