Royal Bank of Canada Reduces Holdings 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 trimmed its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,796 shares of the insurance provider's stock after selling 5,348 shares during the period. Royal Bank of Canada owned 0.35% of Markel Group worth $81,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Markel Group by 210,656.4% during the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock valued at $216,718,000 after acquiring an additional 115,861 shares during the period. Epoch Investment Partners Inc. lifted its position in Markel Group by 49.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 108,019 shares of the insurance provider's stock valued at $201,953,000 after acquiring an additional 35,786 shares during the period. Nuveen LLC purchased a new position in Markel Group during the 1st quarter valued at about $45,796,000. Van Lanschot Kempen Investment Management N.V. lifted its position in Markel Group by 20.1% during 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 acquiring an additional 24,487 shares during the period. Finally, TD Asset Management Inc lifted its position in Markel Group by 34.0% during the 1st quarter. TD Asset Management Inc now owns 68,636 shares of the insurance provider's stock valued at $128,323,000 after acquiring an additional 17,413 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Stock Performance

Shares of MKL stock traded down $2.69 during trading hours on Tuesday, reaching $1,926.60. The company had a trading volume of 8,736 shares, compared to its average volume of 55,655. The business has a fifty day moving average price of $1,971.55 and a 200-day moving average price of $1,905.11. Markel Group Inc. has a one year low of $1,494.00 and a one year high of $2,075.92. The firm has a market cap of $24.38 billion, a PE ratio of 11.54 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.

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

Wall Street Analysts Forecast Growth

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a research note 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.