Markel Group Inc. $MKL Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic has reduced its ownership in Markel Group Inc. by 24.2%, now holding 720 shares worth approximately $1.35 million after selling 230 shares in the first quarter.
• Analysts have upgraded Markel Group's stock rating from "hold" to "buy," with a consensus price target set at $1,820.33.
• Markel Group reported a 24.3% year-over-year revenue increase for its most recent quarter, achieving $4.82 billion in revenue and $25.46 EPS, surpassing estimates.

Pensionfund Sabic lessened its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 720 shares of the insurance provider's stock after selling 230 shares during the quarter. Pensionfund Sabic's holdings in Markel Group were worth $1,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Markel Group in the 1st quarter worth $115,000. GAMMA Investing LLC boosted its stake in Markel Group by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock worth $116,000 after purchasing an additional 7 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Markel Group during the 1st quarter worth $372,000. Check Capital Management Inc. CA boosted its stake in Markel Group by 2.5% during the 1st 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 during the last quarter. Finally, Values Added Financial LLC increased its holdings 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 valued at $2,825,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Trading Up 0.8%

NYSE MKL traded up $16.15 during trading hours on Thursday, reaching $1,943.99. The company had a trading volume of 10,454 shares, compared to its average volume of 54,829. The stock has a 50-day moving average of $1,963.64 and a 200 day moving average of $1,906.96. Markel Group Inc. has a 1-year low of $1,521.25 and a 1-year high of $2,075.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $24.60 billion, a P/E ratio of 11.66 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 EPS for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. The company had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. Markel Group's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $18.62 earnings per share. As a group, research analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Argus raised 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Markel Group presently has an average 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.