State of New Jersey Common Pension Fund D Sells 171 Shares of Markel Group Inc. $MKL

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Markel Group Inc. by 3.8%, retaining 4,275 shares valued at approximately $7,993,000.
• Markel Group reported earnings of $25.46 per share for the last quarter, exceeding analysts' expectations and reflecting a 24.3% year-over-year revenue increase to $4.82 billion.
• Argus upgraded Markel Group's stock from a "hold" to a "buy" rating, with a consensus price target of $1,820.33 as four analysts have rated it as a hold and one as a buy.

State of New Jersey Common Pension Fund D lessened its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,275 shares of the insurance provider's stock after selling 171 shares during the period. State of New Jersey Common Pension Fund D's holdings in Markel Group were worth $7,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Markel Group in the first quarter worth approximately $115,000. GAMMA Investing LLC lifted its position in shares of 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. Vontobel Holding Ltd. purchased a new stake in shares of Markel Group in the first quarter worth approximately $372,000. Check Capital Management Inc. CA lifted its position in shares of Markel Group by 2.5% in the first quarter. Check Capital Management Inc. CA now owns 79,086 shares of the insurance provider's stock worth $147,860,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Values Added Financial LLC lifted its position in shares of Markel Group by 42.0% in the first 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 in the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Stock Performance

MKL stock traded up $24.1730 during midday trading on Friday, hitting $1,993.5630. 30,007 shares of the company traded hands, compared to its average volume of 56,867. Markel Group Inc. has a twelve month low of $1,494.00 and a twelve month high of $2,075.92. 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 business has a 50 day simple moving average of $1,974.81 and a 200-day simple moving average of $1,901.10. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 11.96 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 the consensus estimate of $24.74 by $0.72. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The company had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the prior year, the business earned $18.62 earnings per share. Markel Group's revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities research analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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 given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.