Swedbank AB Sells 44 Shares of Markel Group Inc. (NYSE:MKL)

Swedbank AB cut its holdings in Markel Group Inc. (NYSE:MKL) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 1,888 shares of the insurance provider’s stock after selling 44 shares during the period. Swedbank AB’s holdings in Markel Group were worth $2,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKL. Toth Financial Advisory Corp lifted its position in Markel Group by 1,000.0% during the 3rd 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 last quarter. UMB Bank n.a. lifted 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 acquiring an additional 25 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Markel Group during the 2nd quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Markel Group during the 2nd quarter worth $55,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Markel Group during the 2nd quarter worth $65,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MKL shares. Jefferies Financial Group boosted their target price 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. StockNews.com lowered shares of Markel Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,651.83.

Markel Group Stock Performance

NYSE:MKL opened at $1,785.11 on Thursday. The firm has a market capitalization of $22.96 billion, a PE ratio of 8.23 and a beta of 0.73. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. Markel Group Inc. has a 12-month low of $1,342.66 and a 12-month high of $1,809.11. The firm has a 50-day moving average price of $1,609.69 and a 200 day moving average price of $1,589.29.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $17.34 EPS for the quarter, missing analysts’ consensus estimates of $21.97 by ($4.63). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.74 billion. Markel Group had a return on equity of 10.86% and a net margin of 17.03%. Research analysts anticipate that Markel Group Inc. will post 88.52 earnings per share for the current fiscal year.

About Markel Group

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.