Invesco Ltd. Purchases 435 Shares of Markel Group Inc. $MKL

Key Points

• Invesco Ltd. increased its stake in Markel Group Inc. by 2.6%, owning 17,338 shares valued at $32.4 million, as per the latest SEC filing.
• During the 1st quarter, several institutional investors, including True North Advisors and Benjamin Edwards Inc., made significant investments in Markel Group, contributing to institutional ownership of 77.12%.
• Markel Group reported a strong Q2 earnings with $25.46 EPS, exceeding analyst expectations and reflecting a 24.3% increase in revenue year-over-year.

Invesco Ltd. grew its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,338 shares of the insurance provider's stock after purchasing an additional 435 shares during the period. Invesco Ltd. owned approximately 0.14% of Markel Group worth $32,415,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Markel Group in the first quarter valued at $32,000. True North Advisors LLC purchased a new stake in shares of Markel Group in the first quarter valued at $4,085,000. Benjamin Edwards Inc. lifted its holdings in shares of Markel Group by 16.7% in the first quarter. Benjamin Edwards Inc. now owns 1,013 shares of the insurance provider's stock valued at $1,894,000 after purchasing an additional 145 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Markel Group by 37.4% in the first quarter. Covestor Ltd now owns 158 shares of the insurance provider's stock valued at $296,000 after purchasing an additional 43 shares in the last quarter. Finally, Davis Selected Advisers raised its holdings in shares of Markel Group by 0.3% during the first quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider's stock worth $694,502,000 after acquiring an additional 947 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Stock Up 1.2%

Shares of NYSE:MKL traded up $24.1730 during midday trading on Friday, hitting $1,993.5630. 37,991 shares of the stock were exchanged, compared to its average volume of 46,921. 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 Inc. has a 52-week low of $1,494.00 and a 52-week high of $2,075.92. The business's fifty day simple moving average is $1,976.11 and its two-hundred day simple moving average is $1,902.47. The company has a market capitalization of $25.22 billion, a PE ratio of 11.96 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating 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 company 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 business's revenue was up 24.3% compared to the same quarter last year. As a group, research analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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 given a Hold rating to the company. According to data from MarketBeat, Markel Group has a consensus rating of "Hold" and a consensus target price of $1,820.33.

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.