abrdn plc raised its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 38.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,671 shares of the insurance provider's stock after acquiring an additional 741 shares during the period. abrdn plc's holdings in Markel Group were worth $4,190,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Markel Group by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider's stock valued at $48,412,000 after purchasing an additional 888 shares during the period. Norden Group LLC acquired a new position in shares of Markel Group during the first quarter worth approximately $864,000. BNP Paribas Financial Markets grew its holdings in Markel Group by 15.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,725 shares of the insurance provider's stock worth $10,232,000 after buying an additional 904 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Markel Group by 0.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,485 shares of the insurance provider's stock valued at $6,824,000 after acquiring an additional 26 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Markel Group by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 336 shares of the insurance provider's stock worth $511,000 after purchasing an additional 22 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.
Markel Group Price Performance
Shares of NYSE MKL traded up $5.53 during mid-day trading on Monday, reaching $1,550.53. The company had a trading volume of 50,872 shares, compared to its average volume of 42,690. Markel Group Inc. has a 1-year low of $1,317.00 and a 1-year high of $1,670.24. The stock has a market cap of $19.94 billion, a PE ratio of 7.15 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $1,567.50 and a two-hundred day moving average price of $1,569.24.
Markel Group (NYSE:MKL - Get Free Report) last posted its quarterly earnings data 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). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.74 billion. On average, equities analysts anticipate that Markel Group Inc. will post 91.55 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MKL. Jefferies Financial Group upped their price objective on shares of Markel Group from $1,590.00 to $1,600.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Citigroup increased their price objective on shares of Markel Group from $1,435.00 to $1,450.00 and gave the company a "sell" rating in a report on Tuesday, July 23rd. TD Cowen initiated coverage on Markel Group in a report on Tuesday, July 9th. They set a "buy" rating and a $1,986.00 target price on the stock. StockNews.com downgraded Markel Group from a "buy" rating to a "hold" rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada lowered their target price on Markel Group from $1,700.00 to $1,675.00 and set a "sector perform" rating on the stock in a report on Friday. 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $1,651.83.
Check Out Our Latest Stock Analysis on MKL
About Markel Group
(
Free Report)
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.
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