Markel Group (NYSE:MKL) Releases Quarterly Earnings Results, Misses Estimates By $4.63 EPS

Markel Group (NYSE:MKL) released its earnings results on Wednesday. The insurance provider reported $17.34 EPS for the quarter, missing the consensus estimate of $21.97 by ($4.63), reports. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.74 billion. Markel Group had a net margin of 17.03% and a return on equity of 11.14%.

Markel Group Stock Up 0.2 %

Shares of Markel Group stock traded up $2.99 on Friday, reaching $1,545.00. 68,666 shares of the company were exchanged, compared to its average volume of 42,651. Markel Group has a one year low of $1,295.65 and a one year high of $1,670.24. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 7.12 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $1,567.50 and a 200 day moving average of $1,567.26.

Insider Transactions at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham purchased 20 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $1,512.50 per share, for a total transaction of $30,250.00. Following the purchase, the director now owns 743 shares in the company, valued at approximately $1,123,787.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Markel Group

Large investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp raised its stake in Markel Group by 1,000.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 20 shares during the period. UMB Bank n.a. increased its position in Markel Group by 833.3% during the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock worth $44,000 after buying an additional 25 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Markel Group during the 2nd quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Markel Group during the 2nd quarter worth $55,000. Finally, Cubist Systematic Strategies LLC bought a new position in Markel Group during the 2nd quarter worth $65,000. Institutional investors own 77.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MKL. Jefferies Financial Group boosted their target price on Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Citigroup boosted their target price on Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. TD Cowen began coverage on Markel Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 target price on the stock. Finally, Royal Bank of Canada cut their target price on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1,651.83.

Markel Group Company 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.