Oppenheimer & Co. Inc. Acquires 37 Shares of Markel Group Inc. (NYSE:MKL)

Oppenheimer & Co. Inc. increased its holdings in shares of Markel Group Inc. (NYSE:MKL) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 927 shares of the insurance provider’s stock after acquiring an additional 37 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Markel Group were worth $1,600,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Markel Group during the third quarter worth about $31,000. Larson Financial Group LLC bought a new position in Markel Group during the third quarter worth about $36,000. FPC Investment Advisory Inc. bought a new position in Markel Group during the fourth quarter worth about $37,000. Global Trust Asset Management LLC bought a new position in Markel Group during the fourth quarter worth about $41,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Markel Group during the third quarter worth about $42,000. 77.12% of the stock is owned by institutional investors.

Markel Group Trading Down 0.7 %

MKL opened at $1,919.34 on Tuesday. The company’s 50 day moving average is $1,815.49 and its 200-day moving average is $1,691.36. Markel Group Inc. has a 1-year low of $1,417.65 and a 1-year 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. The company has a market cap of $24.51 billion, a P/E ratio of 9.64 and a beta of 0.78.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. Equities research analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of Markel Group stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $2,008.01 per share, for a total transaction of $200,801.00. Following the purchase, the chief executive officer now owns 48,945 shares in the company, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Markel sold 1,146 shares of Markel Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the sale, the director now owns 63,722 shares in the company, valued at approximately $118,426,699.78. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,034 shares of company stock worth $3,778,952. Corporate insiders own 1.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada increased their price objective on shares of Markel Group from $1,750.00 to $2,025.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Finally, TD Cowen downgraded shares of Markel Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1,685.17.

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.