T. Rowe Price Investment Management Inc. Buys 229 Shares of Markel Group Inc. $MKL

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Markel Group Inc. by 0.1%, owning a total of 153,917 shares valued at approximately $287.77 million.
• Markel Group reported a 24.3% increase in quarterly revenue year-over-year, reaching $4.82 billion, and earnings per share of $25.46, exceeding analysts' expectations.
• Analyst upgrades have strengthened the outlook for Markel Group, with Argus raising its rating from "hold" to "buy," and analysts predicting an average price target of $1,820.33 for the stock.

T. Rowe Price Investment Management Inc. increased its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 0.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,917 shares of the insurance provider's stock after acquiring an additional 229 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.21% of Markel Group worth $287,765,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MKL. Axxcess Wealth Management LLC boosted its position in Markel Group by 0.7% during the first quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider's stock valued at $1,642,000 after purchasing an additional 6 shares during the last quarter. GAMMA Investing LLC boosted its position in Markel Group by 12.7% during the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after purchasing an additional 7 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in Markel Group by 1.1% during the first quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider's stock valued at $1,223,000 after purchasing an additional 7 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Markel Group by 5.8% during the first quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 7 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in Markel Group by 3.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 242 shares of the insurance provider's stock valued at $418,000 after purchasing an additional 8 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Stock Performance

Shares of Markel Group stock traded down $34.61 during trading on Tuesday, reaching $1,943.84. The company's stock had a trading volume of 18,516 shares, compared to its average volume of 56,594. 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 business's fifty day moving average price is $1,976.58 and its 200-day moving average price is $1,901.04. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 11.66 and a beta of 0.82. Markel Group Inc. has a one year low of $1,494.00 and a one year high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.18% and a net margin of 13.39%.The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company posted $18.62 earnings per share. The firm's revenue for the quarter was up 24.3% on a year-over-year basis. As a group, equities research analysts predict that Markel Group Inc. will post 96.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Argus raised 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, Markel Group 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.