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

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Markel Group in the 1st quarter valued at $28,000. Cary Street Partners Investment Advisory LLC raised its position in shares of 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 buying an additional 11 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Markel Group during the first quarter worth about $32,000. ST Germain D J Co. Inc. grew its stake in 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 acquiring an additional 15 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in Markel Group by 866.7% in the 4th quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock valued at $50,000 after acquiring an additional 26 shares during the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Markel Group Trading Down 2.3%

MKL traded down $45.42 during trading hours on Friday, reaching $1,912.76. The company's stock had a trading volume of 44,338 shares, compared to its average volume of 37,207. The stock has a market cap of $24.20 billion, a PE ratio of 11.47 and a beta of 0.82. Markel Group Inc. has a fifty-two week low of $1,494.00 and a fifty-two week high of $2,075.92. 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 business's 50-day moving average is $1,972.89 and its 200-day moving average is $1,904.47.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 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 company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the business earned $18.62 earnings per share. The company's revenue for the quarter was up 24.3% on a year-over-year basis. As a group, equities research analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current fiscal 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 analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Markel Group has an average rating of "Hold" and an average target price of $1,820.33.

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.