Procyon Advisors LLC Decreases Holdings 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 trimmed its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 73.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381 shares of the insurance provider's stock after selling 1,051 shares during the quarter. Procyon Advisors LLC's holdings in Markel Group were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Markel Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,158,510 shares of the insurance provider's stock worth $2,165,962,000 after buying an additional 7,914 shares during the period. Davis Selected Advisers lifted its stake in shares of Markel Group by 0.3% in the 1st quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider's stock valued at $694,502,000 after purchasing an additional 947 shares during the period. Select Equity Group L.P. purchased a new position in shares of Markel Group in the 1st quarter valued at approximately $357,512,000. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Markel Group by 20.1% in the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider's stock valued at $273,105,000 after purchasing an additional 24,487 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Markel Group by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 118,851 shares of the insurance provider's stock valued at $222,177,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $1,820.33.

Markel Group Stock Up 0.9%

Shares of Markel Group stock traded up $16.84 on Thursday, reaching $1,944.68. The company's stock had a trading volume of 33,123 shares, compared to its average volume of 36,013. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of 11.66 and a beta of 0.82. The firm's fifty day simple moving average is $1,962.66 and its two-hundred day simple moving average is $1,907.14. Markel Group Inc. has a 52 week low of $1,521.25 and a 52 week high of $2,075.92. 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 quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 EPS for the quarter, topping the consensus estimate of $24.74 by $0.72. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the company posted $18.62 earnings per share. Markel Group's revenue was up 24.3% compared to the same quarter last year. Equities analysts anticipate that Markel Group Inc. will post 96.25 earnings per share 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.