Front Street Capital Management Inc. Buys 1,059 Shares of Markel Group Inc. $MKL

Key Points

• Front Street Capital Management Inc. significantly increased its stake in Markel Group Inc. by 169.7% during the first quarter, owning 1,683 shares valued at approximately $3.15 million.
• Markel Group received a buy rating upgrade from Argus, reflecting a shift in analyst outlook, with an average price target set at $1,820.33.
• The company's quarterly earnings surpassed expectations, reporting $25.46 earnings per share, exceeding the consensus estimate of $24.74.

Front Street Capital Management Inc. increased its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 169.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the insurance provider's stock after purchasing an additional 1,059 shares during the period. Front Street Capital Management Inc.'s holdings in Markel Group were worth $3,150,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MKL. Brighton Jones LLC bought a new position in shares of Markel Group during the 4th quarter valued at about $236,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Markel Group by 1.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,586 shares of the insurance provider's stock valued at $2,738,000 after purchasing an additional 29 shares in the last quarter. AXA S.A. lifted its holdings in shares of Markel Group by 8.2% during the 4th quarter. AXA S.A. now owns 395 shares of the insurance provider's stock valued at $682,000 after purchasing an additional 30 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Markel Group by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,589 shares of the insurance provider's stock valued at $11,374,000 after purchasing an additional 32 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Markel Group by 8.2% in the 4th quarter. Cetera Investment Advisers now owns 1,649 shares of the insurance provider's stock valued at $2,847,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $1,820.33.

Markel Group Stock Down 0.2%

Shares of Markel Group stock traded down $4.24 on Friday, reaching $1,959.79. 14,196 shares of the company were exchanged, compared to its average volume of 55,312. Markel Group Inc. has a one year low of $1,521.25 and a one year high of $2,075.92. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 11.75 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 has a 50-day moving average of $1,968.79 and a 200 day moving average of $1,906.17.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.18% and a net margin of 13.39%.The company had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter in the prior year, the business posted $18.62 EPS. The business's revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that Markel Group Inc. will post 96.25 earnings per share for the current year.

About Markel Group

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.