Procyon Advisors LLC Lowers Position in Markel Group Inc. $MKL

Key Points

• Procyon Advisors LLC reduced its stake in Markel Group Inc. by 73.4%, now holding only 381 shares valued at approximately $761,000 following the sale of 1,051 shares.
• Markel Group reported quarterly earnings of $25.46 EPS, exceeding estimates by $0.72, with revenue of $4.82 billion, up 24.3% year-over-year.
• Despite a recent upgrade to a "buy" rating from Argus, the average analyst rating remains a "hold" with a target price of $1,820.33.

Procyon Advisors LLC decreased its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 73.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 381 shares of the insurance provider's stock after selling 1,051 shares during the period. Procyon Advisors LLC's holdings in Markel Group were worth $761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MKL. Brighton Jones LLC bought a new position in shares of Markel Group during the fourth quarter worth approximately $236,000. Lazard Asset Management LLC boosted its holdings in shares of Markel Group by 106.1% in the 4th quarter. Lazard Asset Management LLC now owns 237 shares of the insurance provider's stock valued at $408,000 after purchasing an additional 122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Markel Group by 15.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96 shares of the insurance provider's stock valued at $166,000 after purchasing an additional 13 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Markel Group by 43.8% in the 4th quarter. Quantinno Capital Management LP now owns 906 shares of the insurance provider's stock valued at $1,564,000 after purchasing an additional 276 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Markel Group by 4.5% in the 4th quarter. Toronto Dominion Bank now owns 1,732 shares of the insurance provider's stock valued at $2,990,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 77.12% of the company's stock.

Analyst Ratings Changes

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 assigned a Hold rating to the stock. Based on data from MarketBeat, Markel Group currently has a consensus rating of "Hold" and a consensus target price of $1,820.33.

Markel Group Stock Performance

Shares of NYSE:MKL traded down $9.31 during mid-day trading on Friday, reaching $1,935.29. The company had a trading volume of 98,734 shares, compared to its average volume of 35,714. 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 firm has a market cap of $24.49 billion, a price-to-earnings ratio of 11.61 and a beta of 0.82. The company's 50-day moving average price is $1,961.90 and its 200-day moving average price is $1,907.57. Markel Group Inc. has a one year low of $1,521.25 and a one year high of $2,075.92.

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, beating analysts' consensus estimates of $24.74 by $0.72. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The business had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter in the previous year, the firm posted $18.62 EPS. The business's revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Markel Group 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.