Markel Group Inc. $MKL Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its stake in Markel Group Inc. by 8.2%, now holding approximately 0.11% of the company valued at $27.1 million.
• Argus upgraded Markel Group's rating from "hold" to "buy", contributing to the overall average rating of "hold" with a target price of $1,820.33.
• Markel Group's stock reported a 24.3% year-over-year revenue increase of $4.82 billion and earnings per share of $25.46, surpassing analysts' expectations.

Martingale Asset Management L P lowered its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,501 shares of the insurance provider's stock after selling 1,287 shares during the quarter. Martingale Asset Management L P owned approximately 0.11% of Markel Group worth $27,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Markel Group during the 1st quarter worth $115,000. GAMMA Investing LLC boosted its position in shares of Markel Group by 12.7% in the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after purchasing an additional 7 shares during the period. Vontobel Holding Ltd. purchased a new stake in Markel Group in the first quarter valued at approximately $372,000. Check Capital Management Inc. CA raised its position in Markel Group by 2.5% in the 1st quarter. Check Capital Management Inc. CA now owns 79,086 shares of the insurance provider's stock valued at $147,860,000 after purchasing an additional 1,921 shares during the last quarter. Finally, Values Added Financial LLC boosted its stake in Markel Group by 42.0% during the 1st quarter. Values Added Financial LLC now owns 1,511 shares of the insurance provider's stock worth $2,825,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 90 shares of Markel Group stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the completion of the transaction, the director directly owned 632 shares of the company's stock, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Markel Group Stock Up 0.8%

MKL opened at $1,970.3880 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59. Markel Group Inc. has a 12 month low of $1,494.00 and a 12 month high of $2,075.92. The stock has a market capitalization of $24.93 billion, a P/E ratio of 11.82 and a beta of 0.82. The business has a 50 day simple moving average of $1,974.34 and a 200-day simple moving average of $1,900.10.

Markel Group (NYSE:MKL - Get Free Report) last posted its quarterly 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. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The business had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the prior year, the company posted $18.62 EPS. The business's revenue for the quarter was up 24.3% on a year-over-year basis. On average, equities analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current fiscal 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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