HB Wealth Management LLC Buys 1,132 Shares of Markel Group Inc. (NYSE:MKL)

Key Points

• HB Wealth Management LLC increased its holdings in Markel Group Inc. by 180% during the first quarter, owning 1,761 shares valued at approximately $3.29 million.
• Institutional investors now own 77.12% of Markel Group's stock, indicating strong interest and support from large financial entities.
• Argus upgraded Markel Group's stock rating from a "hold" to a "buy," with a consensus target price of $1,820.33.

HB Wealth Management LLC increased its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 180.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,761 shares of the insurance provider's stock after purchasing an additional 1,132 shares during the quarter. HB Wealth Management LLC's holdings in Markel Group were worth $3,292,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its position in Markel Group by 6.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 2,793 shares of the insurance provider's stock valued at $5,222,000 after acquiring an additional 170 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Markel Group by 0.8% in the 1st quarter. Cetera Investment Advisers now owns 1,662 shares of the insurance provider's stock valued at $3,107,000 after purchasing an additional 13 shares during the last quarter. Roundview Capital LLC boosted its stake in shares of Markel Group by 1.4% in the 1st quarter. Roundview Capital LLC now owns 4,408 shares of the insurance provider's stock valued at $8,241,000 after purchasing an additional 61 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Markel Group by 17.5% in the 1st quarter. Venturi Wealth Management LLC now owns 403 shares of the insurance provider's stock valued at $753,000 after purchasing an additional 60 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Markel Group in the 1st quarter valued at about $948,000. Institutional investors and hedge funds own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

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

Markel Group Trading Up 1.7%

NYSE MKL traded up $33.20 during trading on Thursday, reaching $2,039.77. 37,933 shares of the stock traded hands, compared to its average volume of 57,872. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 15.02 and a beta of 0.84. The stock's 50-day moving average price is $1,967.60 and its 200 day moving average price is $1,884.10. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Markel Group Inc. has a fifty-two week low of $1,491.03 and a fifty-two week high of $2,075.92.

Insider Transactions at Markel Group

In related 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 transaction, the director owned 632 shares in the company, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.66% of the company's stock.

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.