Swiss National Bank Cuts Holdings in Markel Group Inc. (NYSE:MKL)

Swiss National Bank reduced its position in Markel Group Inc. (NYSE:MKL) by 0.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 38,590 shares of the insurance provider’s stock after selling 230 shares during the period. Swiss National Bank’s holdings in Markel Group were worth $60,532,000 at the end of the most recent reporting period.

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

Markel Group Price Performance

Shares of MKL stock opened at $1,670.71 on Wednesday. The stock has a 50 day moving average price of $1,584.11 and a 200 day moving average price of $1,583.15. Markel Group Inc. has a 52-week low of $1,342.66 and a 52-week high of $1,733.58. 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 firm has a market capitalization of $21.49 billion, a P/E ratio of 7.71 and a beta of 0.73.

Markel Group (NYSE:MKL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share 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 the consensus estimate of $3.74 billion. Markel Group had a return on equity of 10.86% and a net margin of 17.03%. As a group, sell-side analysts predict that Markel Group Inc. will post 89.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their price target on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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 report on Friday, November 1st. Finally, Citigroup lifted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.