Raymond James Financial Inc. Reduces Holdings in Markel Group Inc. $MKL

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. decreased its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 2.1% in the first quarter, according to its most recent Form 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 quarter. Raymond James Financial Inc. owned 0.44% of Markel Group worth $104,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cresset Asset Management LLC lifted its holdings in shares of Markel Group by 84.7% during the first quarter. Cresset Asset Management LLC now owns 229 shares of the insurance provider's stock worth $428,000 after purchasing an additional 105 shares during the period. American Century Companies Inc. lifted its holdings in shares of Markel Group by 50.3% during the first quarter. American Century Companies Inc. now owns 23,952 shares of the insurance provider's stock worth $44,781,000 after purchasing an additional 8,014 shares during the period. Ethic Inc. lifted its holdings in shares of Markel Group by 15.6% during the first quarter. Ethic Inc. now owns 976 shares of the insurance provider's stock worth $1,815,000 after purchasing an additional 132 shares during the period. Greenlea Lane Capital Management LLC lifted its holdings in Markel Group by 3.4% in the first quarter. Greenlea Lane Capital Management LLC now owns 22,455 shares of the insurance provider's stock valued at $41,982,000 after acquiring an additional 735 shares during the period. Finally, Aberdeen Group plc lifted its holdings in Markel Group by 167.3% in the first quarter. Aberdeen Group plc now owns 5,809 shares of the insurance provider's stock valued at $10,861,000 after acquiring an additional 3,636 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Price Performance

Shares of MKL stock traded up $24.1730 during trading hours on Friday, hitting $1,993.5630. 37,991 shares of the company's stock were exchanged, compared to its average volume of 56,926. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The firm has a market cap of $25.22 billion, a P/E ratio of 11.96 and a beta of 0.82. The firm has a 50 day moving average of $1,974.81 and a two-hundred day moving average of $1,901.10. Markel Group Inc. has a fifty-two week low of $1,494.00 and a fifty-two week high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, topping the consensus estimate of $24.74 by $0.72. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The business's quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the company posted $18.62 EPS. Sell-side analysts forecast that Markel Group Inc. will post 96.25 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Argus raised Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Markel Group 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.