Truist Financial Corp Sells 2,069 Shares of Markel Group Inc. $MKL

Key Points

• Truist Financial Corp has reduced its stake in Markel Group Inc. by 28.3%, selling 2,069 shares and now holding 5,251 shares valued at approximately $10.5 million.
• Markel Group Inc. reported a strong revenue growth of 24.3% year-over-year for the last quarter, with an EPS of $25.46 exceeding estimates.
• The average rating for Markel Group’s stock is currently a "Hold" with a consensus target price set at $1,820.33.

Truist Financial Corp lowered its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 28.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,251 shares of the insurance provider's stock after selling 2,069 shares during the period. Truist Financial Corp's holdings in Markel Group were worth $10,488,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Markel Group in the first quarter worth $115,000. GAMMA Investing LLC boosted its stake in Markel Group by 12.7% in the first quarter. GAMMA Investing LLC now owns 62 shares of the insurance provider's stock valued at $116,000 after buying an additional 7 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Markel Group in the first quarter valued at about $372,000. Check Capital Management Inc. CA boosted its stake in Markel Group by 2.5% in the first quarter. Check Capital Management Inc. CA now owns 79,086 shares of the insurance provider's stock valued at $147,860,000 after buying an additional 1,921 shares in the last quarter. Finally, Values Added Financial LLC boosted its stake in Markel Group by 42.0% in the first quarter. Values Added Financial LLC now owns 1,511 shares of the insurance provider's stock valued at $2,825,000 after buying an additional 447 shares in the last quarter. Institutional investors own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Markel Group in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $1,820.33.

Markel Group Stock Performance

Shares of MKL stock opened at $1,943.85 on Friday. The business's 50-day moving average price is $1,943.03 and its 200-day moving average price is $1,912.19. Markel Group Inc. has a 12 month low of $1,521.25 and a 12 month high of $2,075.92. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 11.66 and a beta of 0.78. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

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, beating 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 firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the firm posted $18.62 earnings per share. The business's revenue for the quarter was up 24.3% on a year-over-year basis. Equities research analysts forecast that Markel Group Inc. will post 96.25 EPS for the current 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.

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