Summit Global Investments Makes New $974,000 Investment in Markel Group Inc. (NYSE:MKL)

Summit Global Investments purchased a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 521 shares of the insurance provider's stock, valued at approximately $974,000.

Several other large investors have also added to or reduced their stakes in MKL. FPC Investment Advisory Inc. acquired a new position in shares of Markel Group in the 4th quarter valued at about $37,000. SBI Securities Co. Ltd. acquired a new position in Markel Group in the 4th quarter worth about $36,000. McIlrath & Eck LLC raised its holdings in Markel Group by 866.7% in the 4th quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock worth $50,000 after purchasing an additional 26 shares during the period. Private Trust Co. NA raised its holdings in Markel Group by 23.1% in the 4th quarter. Private Trust Co. NA now owns 32 shares of the insurance provider's stock worth $55,000 after purchasing an additional 6 shares during the period. Finally, Assetmark Inc. raised its holdings in Markel Group by 140.0% in the 4th quarter. Assetmark Inc. now owns 36 shares of the insurance provider's stock worth $62,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

MKL has been the subject of a number of analyst reports. Argus raised Markel Group from a "hold" rating to a "buy" rating in a report on Friday. Wall Street Zen cut Markel Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, Royal Bank of Canada increased their target price on Markel Group from $1,750.00 to $2,025.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Markel Group currently has a consensus rating of "Hold" and an average price target of $1,727.75.

Markel Group Price Performance

MKL stock traded up $17.67 during mid-day trading on Monday, reaching $1,959.37. The company's stock had a trading volume of 67,118 shares, compared to its average volume of 51,116. The stock has a market cap of $24.85 billion, a PE ratio of 9.84 and a beta of 0.84. The company's 50 day moving average is $1,833.42 and its two-hundred day moving average is $1,811.79. Markel Group Inc. has a fifty-two week low of $1,491.03 and a fifty-two week high of $2,063.68. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other Markel Group news, Director Greta J. Harris sold 90 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the transaction, the director now owns 632 shares of the company's stock, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.66% of the stock is currently owned by company insiders.

Markel Group 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.