Hsbc Holdings PLC Has $21.59 Million Stake in Markel Group Inc. (NYSE:MKL)

Hsbc Holdings PLC reduced its stake in Markel Group Inc. (NYSE:MKL) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,711 shares of the insurance provider’s stock after selling 2,350 shares during the period. Hsbc Holdings PLC’s holdings in Markel Group were worth $21,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of Markel Group by 6.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 9,884 shares of the insurance provider’s stock valued at $15,574,000 after acquiring an additional 558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Markel Group by 2.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider’s stock worth $48,412,000 after purchasing an additional 888 shares during the period. Solitude Financial Services acquired a new stake in Markel Group during the second quarter worth about $1,182,000. Sei Investments Co. increased its holdings in Markel Group by 41.7% in the 1st quarter. Sei Investments Co. now owns 4,308 shares of the insurance provider’s stock valued at $6,554,000 after buying an additional 1,268 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Markel Group by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,336 shares of the insurance provider’s stock valued at $12,684,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company’s stock.

Analyst Upgrades and Downgrades

MKL has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of Markel Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price objective on the stock. Citigroup lifted their price target on Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1,626.83.

Markel Group Stock Performance

Shares of Markel Group stock opened at $1,570.59 on Friday. The company’s 50 day moving average price is $1,565.78 and its two-hundred day moving average price is $1,553.30. The firm has a market capitalization of $20.42 billion, a P/E ratio of 8.48 and a beta of 0.73. Markel Group Inc. has a fifty-two week low of $1,295.65 and a fifty-two week high of $1,670.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share for the quarter, topping analysts’ consensus estimates of $20.76 by $5.19. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.86 billion. On average, equities analysts forecast that Markel Group Inc. will post 89.1 earnings per share for the current fiscal year.

Insider Transactions at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham acquired 20 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $1,512.50 per share, for a total transaction of $30,250.00. Following the acquisition, the director now directly owns 743 shares in the company, valued at $1,123,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.71% of the company’s stock.

Markel Group Profile

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.