Markel Group Inc. $MKL Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Markel Group by 2.1%, now holding approximately 55,993 shares worth $104.68 million after selling 1,209 shares in the first quarter.
• Markel Group reported a strong quarterly performance with earnings per share of $25.46, surpassing analyst estimates by $0.72, and a revenue of $4.82 billion, a 24.3% increase year-over-year.
• Analysts have raised Markel Group’s rating from “hold” to “buy”, with a consensus price target of $1,820.33.

Raymond James Financial Inc. lessened its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,993 shares of the insurance provider's stock after selling 1,209 shares during the period. Raymond James Financial Inc. owned approximately 0.44% of Markel Group worth $104,684,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sierra Ocean LLC purchased a new position in Markel Group in the first quarter valued at $28,000. Cary Street Partners Investment Advisory LLC increased its holdings in Markel Group by 183.3% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock worth $32,000 after purchasing an additional 11 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Markel Group in the 1st quarter valued at about $32,000. ST Germain D J Co. Inc. boosted its stake in shares of Markel Group by 300.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock valued at $37,000 after buying an additional 15 shares during the period. Finally, McIlrath & Eck LLC boosted its stake in shares of Markel Group by 866.7% in the 4th quarter. McIlrath & Eck LLC now owns 29 shares of the insurance provider's stock valued at $50,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Stock Up 1.2%

NYSE MKL traded up $24.1730 during trading on Friday, reaching $1,993.5630. 37,991 shares of the company's stock were exchanged, compared to its average volume of 47,034. The stock has a market cap of $25.22 billion, a P/E ratio of 11.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. The company has a 50 day moving average price of $1,976.11 and a two-hundred day moving average price of $1,901.37. Markel Group Inc. has a 1 year low of $1,494.00 and a 1 year high of $2,075.92.

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

Wall Street Analyst Weigh In

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

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.