Praxis Investment Management Inc. Lowers Stake in Markel Group Inc. $MKL

Key Points

• Praxis Investment Management Inc. decreased its stake in Markel Group Inc. by 27.6% in the second quarter, now holding only 710 shares valued at approximately $1.4 million.
• Markel Group has received a mixed analyst rating, with two analysts recommending a buy and three advising to hold, leading to a consensus price target of $1,930.50.
• Despite a slight decline in stock price of 1.7%, Markel Group reported a strong quarterly performance with an earnings per share of $25.46, exceeding expectations by $0.72.

Praxis Investment Management Inc. reduced its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 710 shares of the insurance provider's stock after selling 270 shares during the period. Praxis Investment Management Inc.'s holdings in Markel Group were worth $1,418,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MKL. Select Equity Group L.P. purchased a new position in Markel Group during the 1st quarter worth $357,512,000. Epoch Investment Partners Inc. grew its position in Markel Group by 49.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 108,019 shares of the insurance provider's stock worth $201,953,000 after purchasing an additional 35,786 shares during the last quarter. Nuveen LLC purchased a new position in Markel Group during the 1st quarter worth $45,796,000. Van Lanschot Kempen Investment Management N.V. grew 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 worth $273,105,000 after purchasing an additional 24,487 shares during the last quarter. Finally, TD Asset Management Inc grew 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 worth $128,323,000 after purchasing an additional 17,413 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MKL. Cowen restated a "hold" rating on shares of Markel Group in a research note on Tuesday, October 7th. Weiss Ratings restated a "buy (b)" rating on shares of Markel Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $1,930.50.

Markel Group Stock Down 1.7%

MKL stock opened at $1,883.01 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. Markel Group Inc. has a one year low of $1,521.25 and a one year high of $2,075.92. The company has a fifty day moving average of $1,937.51 and a 200-day moving average of $1,916.64. The stock has a market capitalization of $23.82 billion, a PE ratio of 11.29 and a beta of 0.78.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 EPS for the quarter, beating 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 firm had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter last year, the business earned $18.62 earnings per share. The business's revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, analysts expect that Markel Group Inc. will post 96.25 EPS for the current year.

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.

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