Royal Bank of Canada Cuts Stake in Markel Group Inc. $MKL

Key Points

• Royal Bank of Canada has reduced its stake in Markel Group Inc. by 10.9%, holding approximately 43,796 shares worth $81.88 million after selling 5,348 shares in the first quarter.
• Markel Group reported an earnings per share (EPS) of $25.46 for the latest quarter, exceeding the consensus estimate by $0.72, alongside a year-over-year revenue increase of 24.3%.
• Analyst ratings for Markel Group reflect a consensus of one Buy rating and three Hold ratings, with a price target of $1,820.33.

Royal Bank of Canada lowered its position in Markel Group Inc. (NYSE:MKL - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,796 shares of the insurance provider's stock after selling 5,348 shares during the period. Royal Bank of Canada owned approximately 0.35% of Markel Group worth $81,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new position in shares of Markel Group during the first quarter worth approximately $108,000. Vident Advisory LLC increased its position in shares of Markel Group by 24.1% during the first quarter. Vident Advisory LLC now owns 453 shares of the insurance provider's stock worth $847,000 after acquiring an additional 88 shares during the period. Magnetar Financial LLC purchased a new position in shares of Markel Group during the first quarter worth approximately $421,000. Canada Pension Plan Investment Board increased its position in shares of Markel Group by 32.9% during the first quarter. Canada Pension Plan Investment Board now owns 14,767 shares of the insurance provider's stock worth $27,609,000 after acquiring an additional 3,657 shares during the period. Finally, Epoch Investment Partners Inc. increased its position in shares of Markel Group by 49.5% during the first quarter. Epoch Investment Partners Inc. now owns 108,019 shares of the insurance provider's stock worth $201,953,000 after acquiring an additional 35,786 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Argus raised shares of Markel Group from a "hold" rating to a "buy" rating in a research 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 company. According to MarketBeat, Markel Group has an average rating of "Hold" and a consensus price target of $1,820.33.

Markel Group Stock Down 2.3%

MKL stock traded down $45.42 during trading on Friday, hitting $1,912.76. 44,338 shares of the company's stock traded hands, compared to its average volume of 37,281. The firm has a market capitalization of $24.20 billion, a P/E ratio of 11.47 and a beta of 0.82. The business has a fifty day simple moving average of $1,972.89 and a two-hundred day simple moving average of $1,904.13. 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 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 issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $24.74 by $0.72. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. Markel Group's revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $18.62 earnings per share. Sell-side analysts anticipate that Markel Group Inc. will post 96.25 EPS for the current year.

About Markel Group

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.