Hennessy Advisors Inc. Acquires Shares of 4,600 Markel Group Inc. $MKL

Key Points

• Hennessy Advisors Inc. has acquired a new stake of 4,600 shares in Markel Group Inc., valued at approximately $9.18 million, during the second quarter of 2023.
• Markel Group's stock has seen a 24.3% increase in revenue compared to the same quarter last year, reporting $4.82 billion in revenue and $25.46 earnings per share for the latest quarter.
• Analysts currently maintain an average rating of "Hold" for Markel Group, with two analysts suggesting a Buy rating and an average price target of $1,820.33.

Hennessy Advisors Inc. acquired a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,600 shares of the insurance provider's stock, valued at approximately $9,188,000.

Several other large investors have also recently made changes to their positions in the business. Axxcess Wealth Management LLC increased its position in shares of Markel Group by 0.7% during the 1st 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 last quarter. GAMMA Investing LLC increased its position in shares of Markel Group by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after purchasing an additional 7 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of Markel Group by 1.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock valued at $1,223,000 after purchasing an additional 7 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Markel Group by 5.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 7 shares during the last quarter. Finally, MainStreet Investment Advisors LLC increased its position in shares of Markel Group by 2.3% during the 1st quarter. MainStreet Investment Advisors LLC now owns 359 shares of the insurance provider's stock valued at $671,000 after purchasing an additional 8 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Markel Group in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $1,820.33.

Markel Group Stock Up 1.2%

Shares of NYSE MKL opened at $1,943.85 on Friday. Markel Group Inc. has a 52 week low of $1,521.25 and a 52 week high of $2,075.92. The business has a 50-day simple moving average of $1,943.03 and a two-hundred day simple moving average of $1,911.77. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The company has a market cap of $24.59 billion, a P/E ratio of 11.66 and a beta of 0.78.

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

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.

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