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Markel Q3 operating revenue rises on industrial segment

By Reuters News


Overview

  • US specialty insurer's Q3 operating revenue rose 6% yr/yr

  • Adjusted operating income for Q3 rose 14% yr/yr to $707 mln

  • Company repurchased $315 mln in shares during the quarter


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • INSURANCE SEGMENT - Co said improved underwriting profitability and higher net investment income drove adjusted operating income growth in Markel Insurance

  • INDUSTRIAL SEGMENT - Industrial segment delivered 13% revenue growth, including 10% organic growth, and a 29% increase in adjusted operating income for the quarter

  • FINANCIAL SEGMENT - Adjusted operating income in Financial segment increased 30% in the quarter


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Operating Revenue

$4.16 bln

Q3 Combined Ratio

92.00%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "buy."

  • Wall Street's median 12-month price target for Markel Group Inc. is $1,950.00, about 5.7% above its October 28 closing price of $1,844.76

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Oct 28 - Everest Group Q3 profit falls on reserve strengthening, catastrophe losses

  • Oct 28 - AXIS Capital Q3 gross premiums written rise 11%

  • Oct 26 - Hartford Insurance Q3 core EPS beats estimates; dividend raised


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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