Markel Group Inc. $MKL Shares Sold by Beck Mack & Oliver LLC

Key Points

• Beck Mack & Oliver LLC reduced its stake in Markel Group Inc. by 1.5%, selling 468 shares and now holding 29,727 shares valued at approximately $55.58 million.
• Markel Group reported a strong financial performance with $25.46 EPS for the last quarter, exceeding analysts' expectations and marking a 24.3% increase in revenue year-over-year.
• Argus upgraded Markel Group from a "hold" to a "buy" rating, contributing to a consensus rating of "Hold" with an average price target of $1,820.33.

Beck Mack & Oliver LLC lessened its position in Markel Group Inc. (NYSE:MKL - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,727 shares of the insurance provider's stock after selling 468 shares during the quarter. Markel Group makes up 1.1% of Beck Mack & Oliver LLC's investment portfolio, making the stock its 26th largest holding. Beck Mack & Oliver LLC owned approximately 0.23% of Markel Group worth $55,578,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC lifted its stake 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. Resonant Capital Advisors LLC lifted its stake in shares of Markel Group by 1.1% in the first quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock worth $1,223,000 after buying an additional 7 shares during the last quarter. GAMMA Investing LLC raised its position in Markel Group by 12.7% in the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock worth $116,000 after purchasing an additional 7 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of 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 purchasing an additional 7 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Markel Group by 3.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock worth $418,000 after purchasing an additional 8 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Trading Up 0.0%

Shares of MKL stock traded up $0.50 during mid-day trading on Wednesday, reaching $1,948.51. The stock had a trading volume of 29,432 shares, compared to its average volume of 39,105. The stock's 50-day moving average price is $1,975.13 and its two-hundred day moving average price is $1,902.91. The firm has a market capitalization of $24.65 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. Markel Group Inc. has a 52-week low of $1,494.00 and a 52-week high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly 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. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm posted $18.62 EPS. The business's quarterly revenue was up 24.3% compared to the same quarter last year. Equities analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Argus raised Markel Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $1,820.33.

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.