Teacher Retirement System of Texas Trims Stock Position in Markel Group Inc. $MKL

Teacher Retirement System of Texas cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 35.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,714 shares of the insurance provider’s stock after selling 5,997 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Markel Group worth $21,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC raised its stake in Markel Group by 0.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 878 shares of the insurance provider’s stock valued at $1,642,000 after acquiring an additional 6 shares during the last quarter. Baxter Bros Inc. raised its stake in Markel Group by 1.0% during the 2nd quarter. Baxter Bros Inc. now owns 637 shares of the insurance provider’s stock valued at $1,272,000 after acquiring an additional 6 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Markel Group by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,741 shares of the insurance provider’s stock worth $3,507,000 after buying an additional 6 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Markel Group by 5.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 128 shares of the insurance provider’s stock worth $239,000 after buying an additional 7 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of Markel Group by 1.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 654 shares of the insurance provider’s stock worth $1,223,000 after buying an additional 7 shares in the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Price Performance

Shares of NYSE:MKL opened at $1,836.20 on Wednesday. The business’s fifty day moving average price is $1,929.67 and its two-hundred day moving average price is $1,925.47. The stock has a market cap of $23.23 billion, a PE ratio of 11.01 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.59 and a current ratio of 0.59. 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) last announced its 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. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Markel Group had a return on equity of 7.18% and a net margin of 13.39%.Markel Group’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $18.62 EPS. On average, analysts forecast that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MKL. Cowen reissued a “hold” rating on shares of Markel Group in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Markel Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Markel Group currently has a consensus rating of “Hold” and a consensus 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.