PNC Financial Services Group Inc. Boosts Stake in Markel Group Inc. (NYSE:MKL)

Key Points

• PNC Financial Services Group Inc. increased its stake in Markel Group Inc. by 2.7%, acquiring an additional 158 shares for a total of 5,915 shares valued at approximately $11 million as of the latest reporting period.
• Several institutional investors, including Bank of America and UBS, also boosted their holdings in Markel Group during the fourth quarter, reflecting significant investor interest.
• Markel Group reported earnings of $25.46 per share for the last quarter, exceeding expectations and marking a year-over-year revenue growth of 24.3%.

PNC Financial Services Group Inc. increased its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,915 shares of the insurance provider's stock after acquiring an additional 158 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Markel Group were worth $11,059,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Markel Group by 0.7% during the 4th quarter. Bank of America Corp DE now owns 140,997 shares of the insurance provider's stock worth $243,393,000 after purchasing an additional 915 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in Markel Group by 19.3% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 121,589 shares of the insurance provider's stock worth $209,891,000 after buying an additional 19,657 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Markel Group by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 116,664 shares of the insurance provider's stock valued at $201,393,000 after buying an additional 1,975 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Markel Group by 210,656.4% in the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock worth $216,718,000 after acquiring an additional 115,861 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Markel Group by 18.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,044 shares of the insurance provider's stock worth $174,425,000 after acquiring an additional 15,916 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 90 shares of the 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 sale, the director directly owned 632 shares in the company, valued at $1,176,430.08. This represents a 12.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by corporate insiders.

Markel Group Price Performance

Shares of MKL opened at $1,938.29 on Wednesday. The firm has a 50-day simple moving average of $1,974.40 and a two-hundred day simple moving average of $1,891.23. The stock has a market cap of $24.52 billion, a PE ratio of 11.62 and a beta of 0.82. Markel Group Inc. has a 1-year low of $1,491.03 and a 1-year high of $2,075.92. 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 posted its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating 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 firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm earned $18.62 EPS. The firm's revenue for the quarter was up 24.3% on a year-over-year basis. As a group, analysts forecast that Markel Group Inc. will post 96.25 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.

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