Alta Capital Management LLC Purchases 263 Shares of Markel Group Inc. $MKL

Key Points

• Alta Capital Management LLC increased its holdings in Markel Group Inc. by 10.3% during the second quarter, adding 263 shares for a total of 2,823 shares valued at approximately $5.64 million.
• Markel Group reported Q2 earnings of $25.46 per share, exceeding estimates, with revenues rising significantly to $4.82 billion, a 24.3% increase from the previous year.
• Approximately 77.12% of Markel Group's stock is owned by institutional investors, highlighting strong interest from major investment firms.

Alta Capital Management LLC raised its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,823 shares of the insurance provider's stock after purchasing an additional 263 shares during the quarter. Alta Capital Management LLC's holdings in Markel Group were worth $5,639,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Markel Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,158,510 shares of the insurance provider's stock valued at $2,165,962,000 after purchasing an additional 7,914 shares during the period. Davis Selected Advisers grew its stake in shares of Markel Group by 0.3% during the 1st quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider's stock valued at $694,502,000 after purchasing an additional 947 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Markel Group by 0.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 204,702 shares of the insurance provider's stock valued at $408,364,000 after purchasing an additional 1,383 shares during the period. Select Equity Group L.P. bought a new position in shares of Markel Group during the 1st quarter valued at approximately $357,512,000. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Markel Group by 20.1% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider's stock valued at $273,105,000 after acquiring an additional 24,487 shares during the period. 77.12% of the stock is currently owned by institutional investors.

Markel Group Trading Down 2.0%

MKL stock opened at $1,916.70 on Thursday. Markel Group Inc. has a 1-year low of $1,521.25 and a 1-year high of $2,075.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 11.50 and a beta of 0.78. The business has a 50 day simple moving average of $1,937.77 and a two-hundred day simple moving average of $1,916.53.

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 for the quarter, topping the consensus estimate of $24.74 by $0.72. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company posted $18.62 EPS. The firm's revenue for the quarter was up 24.3% compared to the same quarter last year. Research analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MKL has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Markel Group in a research note on Wednesday, October 8th. Cowen reiterated a "hold" rating on shares of Markel Group in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $1,930.50.

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.

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.