Allstate Corp Cuts Stock Holdings in Markel Group Inc. $MKL

Key Points

• Allstate Corp decreased its stake in Markel Group Inc. by 54.4% during the first quarter, leaving them with 195 shares valued at approximately $365,000.
• Markel Group reported $4.82 billion in revenue for the last quarter, exceeding analyst expectations and showing a 24.3% increase compared to the previous year.
• Analysts have mixed ratings for Markel Group, with a consensus rating of "Hold" and a target price of $1,820.33, while Argus upgraded it to a "Buy".

Allstate Corp cut its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 54.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195 shares of the insurance provider's stock after selling 233 shares during the quarter. Allstate Corp's holdings in Markel Group were worth $365,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MKL. GAMMA Investing LLC raised its holdings in Markel Group by 210,656.4% in the first quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock worth $216,718,000 after buying an additional 115,861 shares during the last quarter. Nuveen LLC purchased a new position in Markel Group in the 1st quarter worth approximately $45,796,000. Van Lanschot Kempen Investment Management N.V. raised its holdings in Markel Group by 20.1% in 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 acquiring an additional 24,487 shares during the last quarter. TD Asset Management Inc lifted its position in Markel Group by 34.0% in the 1st quarter. TD Asset Management Inc now owns 68,636 shares of the insurance provider's stock valued at $128,323,000 after acquiring an additional 17,413 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Markel Group by 18.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,044 shares of the insurance provider's stock valued at $174,425,000 after purchasing an additional 15,916 shares during the last quarter. Institutional investors own 77.12% of the company's stock.

Markel Group Stock Performance

Shares of Markel Group stock traded up $4.58 on Friday, hitting $1,959.47. 30,211 shares of the company's stock were exchanged, compared to its average volume of 45,181. The company 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 1 year low of $1,494.00 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. The stock has a market capitalization of $24.79 billion, a PE ratio of 11.75 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share 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 firm had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the previous year, the firm earned $18.62 EPS. The business's quarterly revenue was up 24.3% on a year-over-year basis. As a group, equities analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current year.

Analyst Ratings Changes

Separately, Argus raised 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. According to data from MarketBeat, Markel Group currently has a consensus rating of "Hold" and an average price target 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.