Martingale Asset Management L P Decreases Stock Holdings in Markel Group Inc. $MKL

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 trimmed its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,501 shares of the insurance provider's stock after selling 1,287 shares during the period. Martingale Asset Management L P owned 0.11% of Markel Group worth $27,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MKL. GAMMA Investing LLC lifted its position in Markel Group by 210,656.4% during the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock valued at $216,718,000 after acquiring an additional 115,861 shares during the period. Nuveen LLC purchased a new position in Markel Group during the 1st quarter valued at about $45,796,000. Van Lanschot Kempen Investment Management N.V. lifted its position in Markel Group by 20.1% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider's stock valued at $273,105,000 after acquiring an additional 24,487 shares during the period. TD Asset Management Inc lifted its position in Markel Group by 34.0% during 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 15,916 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Stock Down 1.8%

Markel Group stock traded down $36.03 during trading hours on Tuesday, hitting $1,942.43. The stock had a trading volume of 20,606 shares, compared to its average volume of 56,607. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $24.57 billion, a P/E ratio of 11.65 and a beta of 0.82. Markel Group Inc. has a 12-month low of $1,494.00 and a 12-month high of $2,075.92. The stock's 50-day moving average price is $1,976.58 and its 200-day moving average price is $1,901.04.

Markel Group (NYSE:MKL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the previous year, the company earned $18.62 earnings per share. The business's revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Markel Group Company 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.