BNP Paribas Financial Markets Sells 395 Shares of Markel Group Inc. (NYSE:MKL)

BNP Paribas Financial Markets cut its holdings in shares of Markel Group Inc. (NYSE:MKL) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,585 shares of the insurance provider’s stock after selling 395 shares during the quarter. BNP Paribas Financial Markets’ holdings in Markel Group were worth $8,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in Markel Group by 6.0% in 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 in the last quarter. Solitude Financial Services acquired a new stake in Markel Group during the second quarter worth about $1,182,000. SpiderRock Advisors LLC increased its holdings in Markel Group by 199.4% in the 3rd quarter. SpiderRock Advisors LLC now owns 473 shares of the insurance provider’s stock valued at $742,000 after buying an additional 315 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Markel Group by 19.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 4,486 shares of the insurance provider’s stock worth $7,068,000 after acquiring an additional 740 shares during the period. Finally, Versor Investments LP boosted its position in shares of Markel Group by 72.4% during the 3rd quarter. Versor Investments LP now owns 381 shares of the insurance provider’s stock worth $598,000 after acquiring an additional 160 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Stock Down 1.0 %

Shares of MKL opened at $1,764.48 on Tuesday. The stock’s 50-day moving average price is $1,621.80 and its two-hundred day moving average price is $1,591.76. Markel Group Inc. has a 12 month low of $1,342.66 and a 12 month high of $1,809.11. The company has a market capitalization of $22.69 billion, a PE ratio of 8.14 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.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.74 billion. On average, analysts anticipate that Markel Group Inc. will post 88.52 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group boosted their price objective on shares of 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. Royal Bank of Canada dropped their price objective on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Finally, TD Cowen cut shares of Markel Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $1,986.00 to $1,836.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Markel Group presently has an average rating of “Hold” and an average target price of $1,626.83.

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.