Markel Group Inc. $MKL Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Markel Group Inc. by 1.8%, now owning approximately 92,656 shares valued at $173,231,000.
• Markel Group received an upgrade from Argus, moving from a "hold" to a "buy" rating, contributing to a current consensus rating of "Hold" among analysts.
• The company's quarterly earnings surpassed expectations, reporting $25.46 earnings per share and a 24.3% increase in revenue year-over-year.

Northern Trust Corp decreased its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,656 shares of the insurance provider's stock after selling 1,727 shares during the period. Northern Trust Corp owned about 0.73% of Markel Group worth $173,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its position 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 valued at $1,642,000 after buying an additional 6 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Markel Group by 1.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock valued at $1,223,000 after buying an additional 7 shares in the last quarter. GAMMA Investing LLC lifted its holdings in 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 in the last quarter. Checchi Capital Advisers LLC lifted its holdings in Markel Group by 5.8% in the 1st 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 lifted its holdings in Markel Group by 3.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock valued at $418,000 after purchasing an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Trading Up 1.2%

Shares of MKL traded up $24.1730 during midday trading on Friday, reaching $1,993.5630. The company had a trading volume of 37,991 shares, compared to its average volume of 47,034. Markel Group Inc. has a 1-year low of $1,494.00 and a 1-year high of $2,075.92. The stock has a market cap of $25.22 billion, a PE ratio of 11.96 and a beta of 0.82. The firm has a 50 day simple moving average of $1,976.11 and a 200-day simple moving average of $1,901.37. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25.

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 analysts' consensus estimates of $24.74 by $0.72. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The company's revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the company earned $18.62 EPS. Research analysts forecast that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One equities 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.com, the company currently has an average rating of "Hold" and an average price target 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.