Scharf Investments LLC Has $175.76 Million 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 trimmed its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,980 shares of the insurance provider's stock after selling 889 shares during the period. Markel Group comprises approximately 5.1% of Scharf Investments LLC's investment portfolio, making the stock its 6th biggest position. Scharf Investments LLC owned approximately 0.69% of Markel Group worth $175,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MKL. Brighton Jones LLC acquired a new stake in Markel Group in the fourth quarter valued at $236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Markel Group by 15.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96 shares of the insurance provider's stock worth $166,000 after acquiring an additional 13 shares during the period. Vise Technologies Inc. acquired a new stake in Markel Group during the 4th quarter worth about $205,000. Toronto Dominion Bank grew its holdings in Markel Group by 4.5% during the 4th quarter. Toronto Dominion Bank now owns 1,732 shares of the insurance provider's stock worth $2,990,000 after acquiring an additional 75 shares during the period. Finally, Canerector Inc. acquired a new stake in Markel Group during the 4th quarter worth about $9,667,000. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Argus upgraded Markel Group from a "hold" rating to a "buy" rating in a 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 stock. According to data from MarketBeat.com, Markel Group presently has a consensus rating of "Hold" and a consensus price target of $1,820.33.

Markel Group Stock Performance

Shares of Markel Group stock traded down $19.91 during mid-day trading on Monday, hitting $1,915.04. 75,464 shares of the stock were exchanged, compared to its average volume of 38,751. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $24.23 billion, a P/E ratio of 11.49 and a beta of 0.82. The company has a 50-day simple moving average of $1,960.04 and a 200 day simple moving average of $1,907.77. Markel Group Inc. has a 12 month low of $1,521.25 and a 12 month high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating 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 business 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 earned $18.62 EPS. Markel Group's revenue was up 24.3% compared to the same quarter last year. Sell-side analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

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.