Markel Group Inc. $MKL Shares Acquired by Canandaigua National Trust Co of Florida

Key Points

• Canandaigua National Trust Co of Florida increased its stake in Markel Group Inc. by 157%, owning 293 shares valued at approximately $585,000.
• Multiple institutional investors, including Select Equity Group L.P. and GAMMA Investing LLC, have significantly increased their holdings in Markel Group, resulting in over 77% of the company's stock being held by institutional investors.
• Markel Group reported an earnings per share (EPS) of $25.46 for Q2, surpassing estimates and marking a 24.3% year-over-year revenue growth.

Canandaigua National Trust Co of Florida grew its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 157.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 293 shares of the insurance provider's stock after purchasing an additional 179 shares during the period. Canandaigua National Trust Co of Florida's holdings in Markel Group were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MKL. Select Equity Group L.P. purchased a new stake in Markel Group during the 1st quarter worth about $357,512,000. GAMMA Investing LLC increased its holdings in Markel Group by 210,656.4% during the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock worth $216,718,000 after purchasing an additional 115,861 shares during the period. Epoch Investment Partners Inc. increased its holdings in Markel Group by 49.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 108,019 shares of the insurance provider's stock worth $201,953,000 after purchasing an additional 35,786 shares during the period. Nuveen LLC purchased a new stake in Markel Group during the 1st quarter worth about $45,796,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in Markel Group by 20.1% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider's stock worth $273,105,000 after purchasing an additional 24,487 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

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 equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $1,820.33.

Markel Group Trading Down 0.5%

NYSE:MKL opened at $1,955.12 on Monday. The stock has a 50-day simple moving average of $1,967.95 and a 200-day simple moving average of $1,906.81. The stock has a market cap of $24.74 billion, a P/E ratio of 11.73 and a beta of 0.82. Markel Group Inc. has a 1 year low of $1,521.25 and a 1 year high of $2,075.92. 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 announced its 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. The firm had revenue of $4.82 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $18.62 EPS. As a group, analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current fiscal 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.

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