Markel Group Inc. $MKL Shares Bought by Swedbank AB

Key Points

• Swedbank AB significantly increased its stake in Markel Group Inc. by 879.9% during the first quarter, owning a total of 10,936 shares valued at approximately $20.4 million.
• Markel Group has been rated as a "buy" by Argus, marking an upgrade from a previous "hold" rating, with a current consensus price target of $1,820.33.
• The company reported a strong earnings performance, with $25.46 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 24.3% revenue increase year-over-year.

Swedbank AB raised its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 879.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,936 shares of the insurance provider's stock after acquiring an additional 9,820 shares during the period. Swedbank AB owned 0.09% of Markel Group worth $20,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Axxcess Wealth Management LLC boosted its stake in Markel Group by 0.7% in the first quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after acquiring an additional 6 shares during the period. Resonant Capital Advisors LLC boosted 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 valued at $1,223,000 after acquiring an additional 7 shares during the period. GAMMA Investing LLC boosted 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 valued at $116,000 after acquiring an additional 7 shares during the period. Checchi Capital Advisers LLC boosted 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 valued at $239,000 after acquiring an additional 7 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted 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 valued at $418,000 after acquiring an additional 8 shares during the period. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Argus upgraded 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1,820.33.

Markel Group Stock Performance

Shares of NYSE MKL opened at $1,955.12 on Monday. 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 50 day simple moving average of $1,967.95 and a 200-day simple moving average of $1,906.81. The company has a market cap of $24.74 billion, a PE ratio of 11.73 and a beta of 0.82. Markel Group Inc. has a 12-month low of $1,521.25 and a 12-month high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, topping analysts' consensus estimates of $24.74 by $0.72. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The firm's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $18.62 earnings per share. On average, equities research analysts forecast that Markel Group Inc. will post 96.25 EPS 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.

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