Synovus Financial Corp Grows Stock Position in Markel Group Inc. (NYSE:MKL)

Synovus Financial Corp grew its position in shares of Markel Group Inc. (NYSE:MKL) by 20.7% during the third quarter, Holdings Channel reports. The institutional investor owned 432 shares of the insurance provider’s stock after purchasing an additional 74 shares during the quarter. Synovus Financial Corp’s holdings in Markel Group were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MKL. Brooklyn Investment Group purchased a new stake in Markel Group during the third quarter valued at about $31,000. Toth Financial Advisory Corp raised its position 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 valued at $35,000 after purchasing an additional 20 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Markel Group during the 3rd quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB bought a new position in Markel Group in the 3rd quarter worth approximately $42,000. Finally, UMB Bank n.a. grew its stake in Markel Group by 833.3% in the 3rd quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock valued at $44,000 after buying an additional 25 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MKL shares. Jefferies Financial Group raised their price target on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com downgraded Markel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Royal Bank of Canada decreased their price target on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen lowered shares of Markel Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,626.83.

Markel Group Price Performance

Markel Group stock opened at $1,710.14 on Wednesday. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 7.89 and a beta of 0.77. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $1,660.68 and a 200 day simple moving average of $1,600.81. Markel Group Inc. has a 52 week low of $1,342.66 and a 52 week high of $1,809.11.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 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, research analysts forecast that Markel Group Inc. will post 86.73 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.