HighTower Advisors LLC Decreases Holdings in Markel Group Inc. (NYSE:MKL)

Key Points

• HighTower Advisors LLC has reduced its stake in Markel Group by 0.4%, now holding 71,708 shares valued at approximately $134 million.
• Analysts have upgraded Markel Group from a "hold" to a "buy" rating, with a consensus target price of $1,820.33 as per recent evaluations.
• Markel Group reported a significant 24.3% year-over-year increase in quarterly revenue, totaling $4.82 billion, and exceeding earnings estimates by $0.72 per share.

HighTower Advisors LLC decreased its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,708 shares of the insurance provider's stock after selling 297 shares during the period. HighTower Advisors LLC owned 0.57% of Markel Group worth $134,065,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MKL. Sierra Ocean LLC bought a new position in shares of Markel Group during the 1st quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC raised its stake in Markel Group by 183.3% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 11 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in Markel Group in the first quarter valued at about $32,000. ST Germain D J Co. Inc. grew its holdings in shares of Markel Group by 300.0% during the first quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock worth $37,000 after purchasing an additional 15 shares during the last quarter. Finally, McIlrath & Eck LLC raised its position in shares of Markel Group by 866.7% during the fourth quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock worth $50,000 after purchasing an additional 26 shares during the period. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Greta J. Harris sold 90 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $1,861.44, for a total value of $167,529.60. Following the transaction, the director directly owned 632 shares in the company, valued at approximately $1,176,430.08. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $1,820.33.

Markel Group Stock Performance

Markel Group stock traded down $25.69 during mid-day trading on Friday, reaching $1,928.46. 35,694 shares of the stock traded hands, compared to its average volume of 45,523. 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 stock has a market capitalization of $24.40 billion, a PE ratio of 11.57 and a beta of 0.82. Markel Group Inc. has a 12-month low of $1,494.00 and a 12-month high of $2,075.92. The business's 50-day moving average is $1,973.32 and its 200-day moving average is $1,897.45.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $18.62 EPS. The business's revenue was up 24.3% compared to the same quarter last year. As a group, sell-side analysts predict that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

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.