Magnetar Financial LLC Acquires Shares of 225 Markel Group Inc. $MKL

Key Points

• Magnetar Financial LLC has acquired 225 shares of Markel Group Inc. (NYSE: MKL), valued at approximately $421,000, during the first quarter of 2023.
• Analyst ratings for Markel Group have improved, with Argus raising the stock's rating from "hold" to "buy," leading to a current consensus rating of "hold" with an average target price of $1,820.33.
• Markel Group reported a quarterly earnings per share (EPS) of $25.46, surpassing analysts' expectations, and a revenue of $4.82 billion, reflecting a 24.3% increase compared to the previous year.

Magnetar Financial LLC acquired a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 225 shares of the insurance provider's stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Axxcess Wealth Management LLC grew its stake 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 buying an additional 6 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in Markel Group by 1.1% in the first quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock worth $1,223,000 after purchasing an additional 7 shares in the last quarter. GAMMA Investing LLC grew its stake in Markel Group by 12.7% in the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock worth $116,000 after purchasing an additional 7 shares in the last quarter. Checchi Capital Advisers LLC grew its stake 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 purchasing 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 worth $418,000 after purchasing an additional 8 shares in the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Markel Group Stock Down 2.3%

Shares of MKL traded down $45.42 during midday trading on Friday, hitting $1,912.76. 44,338 shares of the company's stock traded hands, compared to its average volume of 37,281. Markel Group Inc. has a 1 year low of $1,494.00 and a 1 year high of $2,075.92. The firm's fifty day moving average is $1,972.89 and its 200-day moving average is $1,903.80. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 EPS for the quarter, beating the consensus estimate of $24.74 by $0.72. The firm had revenue of $4.82 billion during 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 for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $18.62 EPS. As a group, sell-side analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current 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.