Markel Group Inc. (NYSE:MKL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in Markel Group Inc. (NYSE:MKL) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 251 shares of the insurance provider’s stock after selling 7 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Markel Group were worth $394,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp boosted its position in Markel Group by 1,000.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. UMB Bank n.a. boosted its holdings in Markel Group by 833.3% during the third quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock worth $44,000 after buying an additional 25 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Markel Group during the second quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Markel Group in the second quarter worth about $55,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Markel Group during the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MKL shares. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group increased their target price on Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on shares of Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada dropped their target price on shares of 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1,651.83.

Markel Group Trading Down 2.1 %

Shares of Markel Group stock opened at $1,670.71 on Wednesday. Markel Group Inc. has a 1-year low of $1,342.66 and a 1-year high of $1,733.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $21.49 billion, a P/E ratio of 7.71 and a beta of 0.73. The stock’s 50 day simple moving average is $1,584.11 and its 200-day simple moving average is $1,583.15.

Markel Group (NYSE:MKL) last issued 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 net margin of 17.03% and a return on equity of 10.86%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Analysts predict that Markel Group Inc. will post 89.27 EPS 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.