Manitou Investment Management Ltd. Buys Shares of 390 Markel Group Inc. (NYSE:MKL)

Manitou Investment Management Ltd. purchased a new position in shares of Markel Group Inc. (NYSE:MKL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 390 shares of the insurance provider’s stock, valued at approximately $729,000. Markel Group accounts for 0.1% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Davis Selected Advisers lifted its position in Markel Group by 27.9% in the fourth quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider’s stock valued at $639,606,000 after buying an additional 80,922 shares during the last quarter. Boston Partners boosted its position in shares of Markel Group by 17.6% during the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider’s stock worth $486,580,000 after purchasing an additional 42,178 shares during the period. Norges Bank purchased a new stake in Markel Group in the fourth quarter valued at approximately $254,795,000. Bank of America Corp DE lifted its stake in Markel Group by 0.7% during the fourth 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 in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in shares of 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 period. 77.12% of the stock is owned by institutional investors and hedge funds.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,942.61 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $24.64 billion, a price-to-earnings ratio of 9.76 and a beta of 0.85. The stock’s 50-day moving average is $1,842.11 and its two-hundred day moving average is $1,820.56. Markel Group Inc. has a 1-year low of $1,491.03 and a 1-year high of $2,063.68.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKL. Wall Street Zen lowered Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Argus raised shares of Markel Group from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1,727.75.

Insider Buying and Selling at Markel Group

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 value of $167,529.60. Following the transaction, the director now directly owns 632 shares in the company, valued at $1,176,430.08. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.66% of the stock is owned by insiders.

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.