Manitou Investment Management Ltd. Acquires 150 Shares of Markel Group Inc. $MKL

Key Points

• Manitou Investment Management Ltd. increased its holdings in Markel Group by 38.5% during the 2nd quarter, owning a total of 540 shares, which are valued at approximately $1,079,000.
• The stock currently has a consensus rating of "Hold" among analysts, with a target price of $1,930.50 as reported by research firms.
• Markel Group recently reported a 24.3% year-over-year increase in revenue for the quarter, generating $4.82 billion compared to expected estimates.

Manitou Investment Management Ltd. boosted its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 38.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 540 shares of the insurance provider's stock after buying an additional 150 shares during the period. Markel Group makes up about 0.2% of Manitou Investment Management Ltd.'s holdings, making the stock its 19th largest holding. Manitou Investment Management Ltd.'s holdings in Markel Group were worth $1,079,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. 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 raised its position 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 in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Markel Group during the first quarter valued at about $32,000. Ameritas Advisory Services LLC purchased a new stake in Markel Group during the second quarter valued at about $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Markel Group during the first quarter valued at about $54,000. Institutional investors own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

MKL has been the topic of a number of research reports. Cowen restated a "hold" rating on shares of Markel Group in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of Markel Group in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $1,930.50.

Markel Group Stock Down 1.3%

MKL opened at $1,920.98 on Friday. The company has a market cap of $24.30 billion, a P/E ratio of 11.52 and a beta of 0.78. The business's 50-day moving average price is $1,938.63 and its 200-day moving average price is $1,915.42. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. Markel Group Inc. has a 12 month low of $1,521.25 and a 12 month high of $2,075.92.

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

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