Wellington Management Group LLP Sells 7,027 Shares of Markel Group Inc. $MKL

Key Points

• Wellington Management Group LLP has reduced its stake in Markel Group Inc. by 4.8%, now owning approximately 1.10% of the company worth $261.5 million after selling 7,027 shares.
• Markel Group's quarterly earnings report showed an EPS of $25.46, exceeding analysts' expectations and reflecting a 24.3% increase in revenue compared to the same quarter last year.
• Despite recent sales by management, analysts have a consensus rating of "Hold" on the stock, with Argus upgrading it to a "Buy" and a price target of $1,820.33.

Wellington Management Group LLP lowered its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,877 shares of the insurance provider's stock after selling 7,027 shares during the period. Wellington Management Group LLP owned 1.10% of Markel Group worth $261,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Affinity Investment Advisors LLC bought a new stake in Markel Group in the 1st quarter valued at $230,000. Steward Partners Investment Advisory LLC raised its stake in Markel Group by 86.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,237 shares of the insurance provider's stock valued at $4,182,000 after acquiring an additional 1,038 shares during the period. Cresset Asset Management LLC raised its stake in Markel Group by 84.7% in the 1st quarter. Cresset Asset Management LLC now owns 229 shares of the insurance provider's stock valued at $428,000 after acquiring an additional 105 shares during the period. American Century Companies Inc. raised its stake in Markel Group by 50.3% in the 1st quarter. American Century Companies Inc. now owns 23,952 shares of the insurance provider's stock valued at $44,781,000 after acquiring an additional 8,014 shares during the period. Finally, Ethic Inc. raised its stake in Markel Group by 15.6% in the 1st quarter. Ethic Inc. now owns 976 shares of the insurance provider's stock valued at $1,815,000 after acquiring an additional 132 shares during the period. Institutional investors own 77.12% of the company's stock.

Markel Group Price Performance

NYSE:MKL traded up $24.1730 during trading hours on Friday, hitting $1,993.5630. The company's stock had a trading volume of 37,991 shares, compared to its average volume of 46,921. The stock has a fifty day simple moving average of $1,976.11 and a 200-day simple moving average of $1,902.16. The company has a market capitalization of $25.22 billion, a P/E ratio of 11.96 and a beta of 0.82. 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 twelve month low of $1,494.00 and a twelve month high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last released 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. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.Markel Group's revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm posted $18.62 earnings per share. On average, analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal 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 research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.