Swedbank AB Acquires 9,820 Shares of Markel Group Inc. $MKL

Key Points

• Swedbank AB significantly increased its stake in Markel Group Inc. by 879.9% during the first quarter, owning a total of 10,936 shares valued at approximately $20.4 million.
• Markel Group has been rated as a "buy" by Argus, marking an upgrade from a previous "hold" rating, with a current consensus price target of $1,820.33.
• The company reported a strong earnings performance, with $25.46 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 24.3% revenue increase year-over-year.

Swedbank AB grew its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 879.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,936 shares of the insurance provider's stock after buying an additional 9,820 shares during the quarter. Swedbank AB owned 0.09% of Markel Group worth $20,446,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Axxcess Wealth Management LLC raised its stake in shares of Markel Group by 0.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after buying an additional 6 shares in the last quarter. GAMMA Investing LLC grew its holdings in Markel Group by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock worth $116,000 after acquiring an additional 7 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Markel Group by 1.1% in the 1st 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 last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Markel Group by 5.8% in the 1st 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 last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Markel Group by 3.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock valued at $418,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Analysts Set New Price Targets

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

Markel Group Stock Down 0.5%

Shares of MKL traded down $9.31 during mid-day trading on Friday, hitting $1,935.29. 98,734 shares of the company's stock were exchanged, compared to its average volume of 35,714. The company has a market cap of $24.48 billion, a PE ratio of 11.61 and a beta of 0.82. Markel Group Inc. has a 52 week low of $1,521.25 and a 52 week high of $2,075.92. The company has a 50-day simple moving average of $1,961.90 and a 200 day simple moving average of $1,907.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59.

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