Markel Group Inc. (NYSE:MKL) Forecasted to Earn Q3 2024 Earnings of $20.22 Per Share

Markel Group Inc. (NYSE:MKL) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for Markel Group in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now expects that the insurance provider will post earnings of $20.22 per share for the quarter, down from their prior estimate of $20.29. The consensus estimate for Markel Group’s current full-year earnings is $83.47 per share. Zacks Research also issued estimates for Markel Group’s FY2024 earnings at $78.55 EPS.

Other equities research analysts also recently issued research reports about the company. Janney Montgomery Scott reissued a “neutral” rating and set a $1,600.00 price target on shares of Markel Group in a research report on Friday, March 15th. Truist Financial lifted their price objective on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Finally, Jefferies Financial Group lowered Markel Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $1,680.00 to $1,500.00 in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, Markel Group presently has a consensus rating of “Hold” and a consensus price target of $1,520.00.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,615.43 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $1,528.95 and its two-hundred day moving average price is $1,463.79. The company has a market cap of $21.00 billion, a PE ratio of 8.73 and a beta of 0.69. Markel Group has a twelve month low of $1,295.65 and a twelve month high of $1,670.24.

Markel Group (NYSE:MKL) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $18.17 earnings per share for the quarter, missing the consensus estimate of $18.50 by ($0.33). Markel Group had a return on equity of 11.18% and a net margin of 15.23%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.62 billion.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Markel Group by 29,350.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 589 shares of the insurance provider’s stock valued at $867,000 after purchasing an additional 587 shares in the last quarter. Yousif Capital Management LLC grew its position in Markel Group by 4.0% in the 3rd quarter. Yousif Capital Management LLC now owns 259 shares of the insurance provider’s stock valued at $381,000 after acquiring an additional 10 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Markel Group by 1.3% in the third quarter. Daiwa Securities Group Inc. now owns 780 shares of the insurance provider’s stock valued at $1,149,000 after acquiring an additional 10 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Markel Group by 7.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 314 shares of the insurance provider’s stock valued at $462,000 after buying an additional 21 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Markel Group by 34.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 235 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 60 shares in the last quarter. 77.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven A. Markel sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total value of $4,915,170.00. Following the completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.71% of the stock is currently owned by company insiders.

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.