LPL Financial LLC Boosts Holdings in Markel Group Inc. (NYSE:MKL)

Key Points

• LPL Financial LLC increased its stake in Markel Group Inc. by 8.0% during the first quarter, owning 6,656 shares valued at approximately $12.4 million.
• Markel Group's latest earnings report showed earnings per share of $25.46, exceeding analyst expectations and marking a revenue increase of 24.3% year-over-year.
• The company received an upgrade from Argus, raising its rating from "hold" to "buy", as it has an average target price of $1,820.33 according to analysts.

LPL Financial LLC increased its position in Markel Group Inc. (NYSE:MKL - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,656 shares of the insurance provider's stock after buying an additional 492 shares during the quarter. LPL Financial LLC owned 0.05% of Markel Group worth $12,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Sierra Ocean LLC bought a new stake in shares of Markel Group during the 1st quarter valued at $28,000. ST Germain D J Co. Inc. increased its position in shares of Markel Group by 300.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of Markel Group by 866.7% during the 4th quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock valued at $50,000 after purchasing an additional 26 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Markel Group during the 1st quarter valued at approximately $54,000. Finally, Versant Capital Management Inc grew its stake in shares of Markel Group by 178.6% during the 1st quarter. Versant Capital Management Inc now owns 39 shares of the insurance provider's stock valued at $73,000 after acquiring an additional 25 shares during the period. Institutional investors own 77.12% of the company's stock.

Markel Group Stock Performance

NYSE:MKL opened at $1,895.91 on Friday. The stock's fifty day moving average is $1,975.28 and its 200 day moving average is $1,892.51. Markel Group Inc. has a fifty-two week low of $1,494.00 and a fifty-two week high of $2,075.92. The firm has a market capitalization of $23.98 billion, a PE ratio of 11.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Markel Group

In related news, Director Greta J. Harris sold 90 shares of Markel Group stock in a transaction dated 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 completion of the sale, the director directly owned 632 shares in the company, valued at $1,176,430.08. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.66% of the stock is owned by insiders.

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.

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