Procyon Advisors LLC Purchases 24 Shares of Markel Group Inc. (NYSE:MKL)

Procyon Advisors LLC grew its position in Markel Group Inc. (NYSE:MKL) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,410 shares of the insurance provider’s stock after acquiring an additional 24 shares during the period. Procyon Advisors LLC’s holdings in Markel Group were worth $2,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MKL. UMB Bank n.a. boosted its holdings in shares of Markel Group by 833.3% during the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock worth $44,000 after buying an additional 25 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Markel Group during the 2nd quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Markel Group during the 2nd quarter worth about $55,000. GAMMA Investing LLC boosted its holdings in shares of Markel Group by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 38 shares of the insurance provider’s stock worth $58,000 after buying an additional 18 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Markel Group during the 2nd quarter worth about $65,000. Institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MKL shares. StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their price objective on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. TD Cowen initiated coverage on shares of Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,643.50.

Insider Activity

In other news, Director Lawrence A. Cunningham bought 20 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $1,512.50 per share, for a total transaction of $30,250.00. Following the transaction, the director now owns 743 shares of the company’s stock, valued at $1,123,787.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Markel Group Price Performance

Shares of NYSE:MKL opened at $1,568.18 on Tuesday. The firm has a 50 day moving average of $1,558.27 and a 200-day moving average of $1,560.05. The stock has a market capitalization of $20.39 billion, a PE ratio of 8.47 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. Markel Group Inc. has a 12 month low of $1,295.65 and a 12 month high of $1,670.24.

Markel Group (NYSE:MKL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $25.95 EPS for the quarter, beating the consensus estimate of $20.76 by $5.19. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Markel Group had a net margin of 13.00% and a return on equity of 11.12%. On average, equities research analysts predict that Markel Group Inc. will post 89.94 EPS 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.