Markel Group Inc. $MKL Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC reduced its stake in Markel Group by 15.9%, selling 1,288 shares and holding 6,817 shares valued at approximately $13.6 million as of the latest reporting period.
• Markel Group recently received an upgrade from Argus, changing its rating from "hold" to "buy," while the stock has a current average target price of $1,820.33.
• In its latest earnings report, Markel Group posted an EPS of $25.46, beating analysts' expectations, with revenue of $4.82 billion, reflecting a year-over-year revenue increase of 24.3%.

Wedge Capital Management L L P NC lessened its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,817 shares of the insurance provider's stock after selling 1,288 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.05% of Markel Group worth $13,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Markel Group in the 1st quarter worth $28,000. Cary Street Partners Investment Advisory LLC increased its holdings 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 period. Atlas Capital Advisors Inc. acquired a new stake in Markel Group during the first quarter worth about $32,000. ST Germain D J Co. Inc. grew its holdings 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 acquiring an additional 15 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in Markel Group during the first quarter worth approximately $54,000. Institutional investors own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Markel Group Stock Performance

MKL traded up $15.96 on Tuesday, hitting $1,939.02. 11,626 shares of the company traded hands, compared to its average volume of 55,072. The stock has a market capitalization of $24.53 billion, a PE ratio of 11.63 and a beta of 0.82. The company has a 50 day moving average of $1,960.04 and a 200-day 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. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25.

Markel Group (NYSE:MKL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $24.74 by $0.72. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.The company's revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $18.62 EPS. Sell-side analysts anticipate that Markel Group Inc. will post 96.25 earnings per share for the current 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.