Markel Group Inc. $MKL is Sprucegrove Investment Management Ltd.'s 6th Largest Position

Key Points

• Sprucegrove Investment Management Ltd. reduced its holdings in Markel Group Inc. by 30.2% during the first quarter, owning 12,626 shares worth approximately $23.61 million.
• Markel Group's recent financial results showed earnings per share (EPS) of $25.46, exceeding analysts' expectations, with a 24.3% year-over-year increase in revenue.
• Argus upgraded Markel Group's stock rating from "hold" to "buy," amidst a market where institutional investors currently hold 77.12% of the company's stock.

Sprucegrove Investment Management Ltd. reduced its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 30.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,626 shares of the insurance provider's stock after selling 5,464 shares during the quarter. Markel Group accounts for about 2.0% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 6th biggest position. Sprucegrove Investment Management Ltd. owned approximately 0.10% of Markel Group worth $23,606,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MKL. Axxcess Wealth Management LLC boosted its stake in Markel Group by 0.7% in the first quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after acquiring an additional 6 shares during the last quarter. GAMMA Investing LLC boosted its stake in Markel Group by 12.7% in the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after acquiring an additional 7 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in Markel Group by 1.1% in the first quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock valued at $1,223,000 after acquiring an additional 7 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Markel Group by 5.8% in the first quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock valued at $239,000 after acquiring an additional 7 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in Markel Group by 3.4% in the fourth 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 last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Stock Performance

Shares of NYSE MKL traded up $14.9480 during midday trading on Wednesday, hitting $1,970.3880. The company's stock had a trading volume of 35,189 shares, compared to its average volume of 57,029. The stock has a fifty day moving average price of $1,973.50 and a 200 day moving average price of $1,899.61. Markel Group Inc. has a one year low of $1,494.00 and a one year high of $2,075.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 11.82 and a beta of 0.82.

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

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 90 shares of the company'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 sale, the director owned 632 shares of the company's stock, valued at approximately $1,176,430.08. This represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.66% of the company's stock.

Analyst Ratings Changes

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.