Confluence Investment Management LLC Reduces Position in Markel Group Inc. (NYSE:MKL)

Confluence Investment Management LLC lowered its stake in Markel Group Inc. (NYSE:MKL) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,434 shares of the insurance provider’s stock after selling 4,233 shares during the period. Confluence Investment Management LLC owned 0.27% of Markel Group worth $54,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC raised its stake in Markel Group by 3.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 462 shares of the insurance provider’s stock worth $725,000 after acquiring an additional 17 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in Markel Group by 323.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,084 shares of the insurance provider’s stock valued at $1,700,000 after purchasing an additional 828 shares during the last quarter. Solitude Financial Services increased its holdings in shares of Markel Group by 43.3% in the third quarter. Solitude Financial Services now owns 1,075 shares of the insurance provider’s stock valued at $1,686,000 after purchasing an additional 325 shares during the period. QRG Capital Management Inc. raised its stake in shares of Markel Group by 5.9% in the third quarter. QRG Capital Management Inc. now owns 269 shares of the insurance provider’s stock worth $422,000 after purchasing an additional 15 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Markel Group by 8.6% during the third quarter. Asset Management One Co. Ltd. now owns 5,084 shares of the insurance provider’s stock worth $7,975,000 after purchasing an additional 404 shares during the period. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Stock Performance

Shares of NYSE MKL opened at $1,636.14 on Friday. The company has a market capitalization of $21.04 billion, a PE ratio of 7.55 and a beta of 0.73. 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’s fifty day moving average price is $1,569.03 and its 200 day moving average price is $1,571.76. Markel Group Inc. has a 1 year low of $1,317.00 and a 1 year high of $1,670.24.

Markel Group (NYSE:MKL) last posted 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). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.74 billion. On average, research analysts predict that Markel Group Inc. will post 89.27 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MKL shares. Royal Bank of Canada cut their price target on shares of Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Citigroup increased their price objective on shares of Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Markel Group from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group increased their price target on 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,651.83.

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.