Markel Group Inc. $MKL Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Markel Group Inc. by 12.1%, acquiring an additional 1,688 shares in the first quarter, bringing its total ownership to about $29.2 million.
• Markel Group posted earnings of $25.46 per share, exceeding expectations, with quarterly revenue up 24.3% from the previous year, totaling $4.82 billion.
• Analysts have a mixed outlook on Markel Group, with one upgrade to a "buy" rating and an average price target of $1,820.33 for the stock, which currently has a "hold" rating.

Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,618 shares of the insurance provider's stock after buying an additional 1,688 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.12% of Markel Group worth $29,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC grew its holdings 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 worth $1,642,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC lifted its position in Markel Group by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock worth $116,000 after acquiring an additional 7 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in Markel Group by 1.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock worth $1,223,000 after acquiring an additional 7 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Markel Group by 5.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock worth $239,000 after acquiring an additional 7 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in Markel Group by 3.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock worth $418,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Markel Group Stock Performance

MKL traded up $4.58 during trading hours on Friday, hitting $1,959.47. 30,211 shares of the stock were exchanged, compared to its average volume of 45,181. The stock has a 50-day simple moving average of $1,976.85 and a 200-day simple moving average of $1,901.59. Markel Group Inc. has a 12 month low of $1,494.00 and a 12 month high of $2,075.92. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 11.75 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59.

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