Markel Group (NYSE:MKL) Hits New 1-Year High After Better-Than-Expected Earnings

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Shares of Markel Group Inc. (NYSE:MKL - Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $2,075.92 and last traded at $2,038.35, with a volume of 13474 shares traded. The stock had previously closed at $2,006.57.

The insurance provider reported $25.46 earnings per share for the quarter, topping the consensus estimate of $24.74 by $0.72. Markel Group had a return on equity of 7.18% and a net margin of 13.39%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm posted $18.62 EPS. The business's revenue was up 24.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Separately, Argus raised Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Markel Group has an average rating of "Hold" and a consensus price target of $1,820.33.

Insider Activity at Markel Group

In other news, Director Greta J. Harris sold 90 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the transaction, the director owned 632 shares of the company's stock, valued at approximately $1,176,430.08. This represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new stake in Markel Group in the 1st quarter valued at approximately $28,000. Chilton Capital Management LLC acquired a new stake in Markel Group in the 2nd quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in Markel Group by 183.3% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider's stock valued at $32,000 after buying an additional 11 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Markel Group in the 1st quarter valued at approximately $32,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Markel Group in the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Price Performance

The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 11.62 and a beta of 0.82. The stock has a fifty day simple moving average of $1,971.98 and a 200-day simple moving average of $1,889.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25.

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.