Scharf Investments LLC Has $175.76 Million Stock Position in Markel Group Inc. $MKL

Key Points

• Scharf Investments LLC reduced its position in Markel Group Inc. by 1.0% during the second quarter, holding 87,980 shares valued at approximately $175.76 million.
• Markel Group's stock was recently rated as a "buy" by Argus, while the average rating remains as "hold" with a price target of $1,820.33.
• The company reported earnings of $25.46 per share for the last quarter, exceeding estimates and highlighting a 24.3% increase in revenue compared to the previous year.

Scharf Investments LLC lowered its position in Markel Group Inc. (NYSE:MKL - Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,980 shares of the insurance provider's stock after selling 889 shares during the quarter. Markel Group accounts for about 5.1% of Scharf Investments LLC's holdings, making the stock its 6th largest position. Scharf Investments LLC owned 0.69% of Markel Group worth $175,759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of Markel Group in the 1st quarter worth $28,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Markel Group by 183.3% in 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 during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Markel Group in the first quarter valued at approximately $32,000. ST Germain D J Co. Inc. lifted its stake in Markel Group by 300.0% during 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 during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Markel Group in the 1st quarter valued at $54,000. Institutional investors own 77.12% of the company's stock.

Analyst Ratings Changes

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

Markel Group Stock Down 0.5%

MKL stock opened at $1,935.29 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The stock has a market cap of $24.48 billion, a P/E ratio of 11.61 and a beta of 0.82. The company's 50 day moving average is $1,961.90 and its two-hundred day moving average is $1,907.63. Markel Group Inc. has a twelve month low of $1,521.25 and a twelve month high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last announced 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 business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The company's quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $18.62 earnings per share. Research analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal 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.

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