Markel Group Inc. $MKL is Avenir Corp's 3rd Largest Position

Key Points

• Avenir Corp has reduced its holdings in Markel Group Inc. by 9.0%, now owning 49,640 shares, which make up 9.7% of Avenir's portfolio.
• Markel Group recently had its rating upgraded from "hold" to "buy" by Argus, with an average price target of $1,820.33 among analysts.
• The company's latest earnings report indicated a 24.3% year-over-year revenue growth to $4.82 billion, surpassing analyst estimates.

Avenir Corp decreased its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,640 shares of the insurance provider's stock after selling 4,928 shares during the period. Markel Group comprises 9.7% of Avenir Corp's holdings, making the stock its 3rd largest holding. Avenir Corp owned approximately 0.39% of Markel Group worth $92,807,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC raised its holdings in shares of Markel Group by 0.7% during the first quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC increased its position in Markel Group by 12.7% in the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after buying an additional 7 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Markel Group by 1.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock worth $1,223,000 after buying an additional 7 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Markel Group by 5.8% in the first quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock worth $239,000 after acquiring an additional 7 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in Markel Group by 3.4% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock valued at $418,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Stock Up 0.2%

MKL traded up $4.58 during mid-day trading on Friday, reaching $1,959.47. 30,211 shares of the stock were exchanged, compared to its average volume of 45,181. Markel Group Inc. has a 1 year low of $1,494.00 and a 1 year high of $2,075.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $24.79 billion, a PE ratio of 11.75 and a beta of 0.82. The company has a 50 day moving average price of $1,976.85 and a two-hundred day moving average price of $1,901.59.

Markel Group (NYSE:MKL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the firm earned $18.62 earnings per share. The firm's revenue was up 24.3% on a year-over-year basis. As a group, research analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current year.

Analysts Set New Price Targets

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

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.