Verdence Capital Advisors LLC Sells 162 Shares of Markel Group Inc. $MKL

Key Points

• Verdence Capital Advisors LLC reduced its stake in Markel Group Inc. by 33.8%, selling 162 shares and now holding 318 shares valued at approximately $635,000.
• Markel Group's stock recently opened at $1,953.83 and reported earnings per share of $25.46, exceeding analysts' expectations.
• Analysts currently rate Markel Group with a consensus of Hold, with an average target price of $1,930.50, following multiple upgrades and downgrades from various research firms.

Verdence Capital Advisors LLC decreased its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 33.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 318 shares of the insurance provider's stock after selling 162 shares during the quarter. Verdence Capital Advisors LLC's holdings in Markel Group were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in shares of Markel Group during the first quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in 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 worth $32,000 after purchasing an additional 11 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Markel Group in the first quarter worth approximately $32,000. Ameritas Advisory Services LLC purchased a new stake in Markel Group in the second quarter worth approximately $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Markel Group in the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Stock Up 1.3%

Shares of MKL stock opened at $1,953.83 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 11.72 and a beta of 0.78. The company's fifty day moving average price is $1,938.58 and its 200-day moving average price is $1,916.53. Markel Group Inc. has a one year low of $1,521.25 and a one year high of $2,075.92.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $24.74 by $0.72. The company 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%. Markel Group's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $18.62 EPS. Sell-side analysts expect that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Markel Group in a report on Wednesday, October 8th. Cowen restated a "hold" rating on shares of Markel Group in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $1,930.50.

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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