Nuveen LLC Buys New Stake in Markel Group Inc. (NYSE:MKL)

Key Points

• Nuveen LLC acquired a new stake in Markel Group Inc., purchasing 24,495 shares valued at approximately $45.8 million, representing about 0.19% of the company.
• Markel Group received a positive rating update as Argus upgraded the stock from a "hold" to a "buy" rating, although the consensus rating still remains "hold" with an average target price of $1,820.33.
• The company reported strong quarterly earnings, with an EPS of $25.46, exceeding estimates, and a significant year-over-year revenue increase of 24.3% to $4.82 billion.

Nuveen LLC bought a new stake in Markel Group Inc. (NYSE:MKL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 24,495 shares of the insurance provider's stock, valued at approximately $45,796,000. Nuveen LLC owned about 0.19% of Markel Group at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MKL. Brighton Jones LLC purchased a new position in shares of Markel Group in the 4th quarter valued at $236,000. Sagespring Wealth Partners LLC purchased a new position in shares of Markel Group in the 4th quarter valued at $233,000. Mariner LLC grew its position in shares of Markel Group by 38.7% in the 4th quarter. Mariner LLC now owns 3,962 shares of the insurance provider's stock valued at $6,839,000 after buying an additional 1,106 shares during the last quarter. Anchor Investment Management LLC grew its position in shares of Markel Group by 132.8% in the 4th quarter. Anchor Investment Management LLC now owns 142 shares of the insurance provider's stock valued at $245,000 after buying an additional 81 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new position in shares of Markel Group in the 4th quarter valued at $1,319,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Markel Group

In other news, Director Greta J. Harris sold 90 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total value of $167,529.60. Following the completion of the sale, the director owned 632 shares in the company, valued at approximately $1,176,430.08. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.66% of the company's stock.

Analyst Ratings Changes

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

Markel Group Trading Down 0.4%

Shares of Markel Group stock opened at $1,955.62 on Friday. Markel Group Inc. has a 1 year low of $1,494.00 and a 1 year high of $2,075.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $24.74 billion, a P/E ratio of 11.73 and a beta of 0.82. The company's fifty day moving average is $1,974.10 and its two-hundred day moving average is $1,896.76.

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 (EPS) for the quarter, topping the consensus estimate of $24.74 by $0.72. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the firm posted $18.62 EPS. Markel Group's revenue for the quarter was up 24.3% on a year-over-year basis. 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.

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