Swiss National Bank Reduces Stock Position in Markel Group Inc. (NYSE:MKL)

Swiss National Bank lessened its stake in Markel Group Inc. (NYSE:MKL) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,590 shares of the insurance provider’s stock after selling 230 shares during the period. Swiss National Bank owned approximately 0.30% of Markel Group worth $60,532,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Toth Financial Advisory Corp grew its holdings in shares of Markel Group by 1,000.0% in the third quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 20 shares during the period. UMB Bank n.a. grew its stake in shares of Markel Group by 833.3% during the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 25 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Markel Group during the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Markel Group in the 2nd quarter worth approximately $55,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Markel Group in the second quarter worth approximately $65,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Markel Group Trading Down 2.1 %

Shares of Markel Group stock opened at $1,670.71 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. The company has a fifty day moving average of $1,584.11 and a 200 day moving average of $1,583.15. The company has a market capitalization of $21.49 billion, a P/E ratio of 7.71 and a beta of 0.73. Markel Group Inc. has a fifty-two week low of $1,342.66 and a fifty-two week high of $1,733.58.

Markel Group (NYSE:MKL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $21.97 by ($4.63). The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Markel Group had a return on equity of 10.86% and a net margin of 17.03%. On average, sell-side analysts anticipate that Markel Group Inc. will post 89.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on MKL. Jefferies Financial Group increased their price target on shares of Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup raised their target price on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reduced their price target on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.