AQR Capital Management LLC Sells 4,761 Shares of Markel Group Inc. $MKL

Key Points

• AQR Capital Management LLC has reduced its stake in Markel Group Inc. by 16.9%, selling 4,761 shares and now holding 23,372 shares valued at approximately $43 million.
• Markel Group's stock received a rating upgrade from Argus from "hold" to "buy", reflecting increasing analyst confidence, while the company has an average target price of $1,820.33.
• Markel Group reported earnings of $25.46 per share for the last quarter, surpassing estimates, with revenue up 24.3% year-over-year, amounting to $4.82 billion.

AQR Capital Management LLC reduced its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 16.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,372 shares of the insurance provider's stock after selling 4,761 shares during the quarter. AQR Capital Management LLC owned approximately 0.18% of Markel Group worth $43,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Markel Group during the fourth quarter valued at about $236,000. The Manufacturers Life Insurance Company increased its holdings in Markel Group by 1.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,586 shares of the insurance provider's stock valued at $2,738,000 after purchasing an additional 29 shares during the period. AXA S.A. raised its position in Markel Group by 8.2% during the 4th quarter. AXA S.A. now owns 395 shares of the insurance provider's stock valued at $682,000 after purchasing an additional 30 shares during the last quarter. Ameriprise Financial Inc. raised its position in Markel Group by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,589 shares of the insurance provider's stock valued at $11,374,000 after purchasing an additional 32 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Markel Group by 8.2% in the 4th quarter. Cetera Investment Advisers now owns 1,649 shares of the insurance provider's stock worth $2,847,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Stock Down 0.5%

Shares of MKL stock traded down $8.91 during midday trading on Friday, reaching $1,955.12. 32,060 shares of the stock were exchanged, compared to its average volume of 37,619. Markel Group Inc. has a 1 year low of $1,521.25 and a 1 year high of $2,075.92. The firm has a market cap of $24.73 billion, a PE ratio of 11.73 and a beta of 0.82. The company's 50 day moving average is $1,967.95 and its two-hundred day moving average is $1,906.64. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL - Get Free Report) last issued 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 company had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the prior year, the firm earned $18.62 earnings per share. The firm's revenue for the quarter was up 24.3% on a year-over-year basis. On average, equities research analysts predict that Markel Group Inc. will post 96.25 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $1,820.33.

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.