Resona Asset Management Co. Ltd. Increases Position in Markel Group Inc. $MKL

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Markel Group Inc. by 3.7% during the first quarter, bringing its total to 4,807 shares valued at $8,980,000.
• Wall Street analysts have raised their rating for Markel Group from "hold" to "buy," with an average target price of $1,820.33.
• Markel Group reported strong quarterly earnings with $25.46 per share, exceeding estimates and showing a 24.3% year-over-year revenue growth.

Resona Asset Management Co. Ltd. boosted its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,807 shares of the insurance provider's stock after acquiring an additional 171 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Markel Group were worth $8,980,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in Markel Group in the first quarter worth about $28,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Markel Group by 183.3% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 11 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Markel Group in the first quarter worth $32,000. ST Germain D J Co. Inc. raised its holdings in Markel Group by 300.0% in the first quarter. ST Germain D J Co. Inc. now owns 20 shares of the insurance provider's stock worth $37,000 after purchasing an additional 15 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in Markel Group by 866.7% during the fourth 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. 77.12% of the stock is currently owned by institutional investors.

Markel Group Stock Up 1.1%

MKL stock traded up $21.0880 during midday trading on Tuesday, hitting $1,943.4480. The company's stock had a trading volume of 10,504 shares, compared to its average volume of 56,989. The company has a market cap of $24.58 billion, a PE ratio of 11.65 and a beta of 0.82. The firm's 50-day moving average is $1,972.96 and its 200-day moving average is $1,899.23. Markel Group Inc. has a 12 month low of $1,494.00 and a 12 month high of $2,075.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly 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. The firm had revenue of $4.82 billion for 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 company'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 earnings per share. On average, equities research analysts forecast that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 90 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total value of $167,529.60. Following the transaction, the director directly owned 632 shares in the company, valued at $1,176,430.08. This represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is owned by company insiders.

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.