AdvisorNet Financial Inc Sells 6 Shares of Markel Group Inc. (NYSE:MKL)

AdvisorNet Financial Inc lowered its stake in shares of Markel Group Inc. (NYSE:MKL) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340 shares of the insurance provider’s stock after selling 6 shares during the quarter. AdvisorNet Financial Inc’s holdings in Markel Group were worth $587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SpiderRock Advisors LLC increased its position in shares of Markel Group by 199.4% during the third quarter. SpiderRock Advisors LLC now owns 473 shares of the insurance provider’s stock valued at $742,000 after acquiring an additional 315 shares during the last quarter. Versor Investments LP lifted its holdings in Markel Group by 72.4% during the third quarter. Versor Investments LP now owns 381 shares of the insurance provider’s stock valued at $598,000 after purchasing an additional 160 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Markel Group in the 2nd quarter worth approximately $2,803,000. Franklin Resources Inc. grew its position in shares of Markel Group by 10.4% in the third quarter. Franklin Resources Inc. now owns 5,571 shares of the insurance provider’s stock valued at $8,736,000 after purchasing an additional 527 shares in the last quarter. Finally, State Street Corp lifted its holdings in Markel Group by 4.2% during the 3rd quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock worth $516,391,000 after purchasing an additional 13,372 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MKL. Jefferies Financial Group increased their price target on shares of Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. TD Cowen cut shares of Markel Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. Royal Bank of Canada reduced their price target on shares of 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. Finally, StockNews.com raised shares of Markel Group from a “hold” rating to a “buy” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1,626.83.

Markel Group Price Performance

MKL stock opened at $1,747.27 on Thursday. The firm has a 50 day simple moving average of $1,722.73 and a two-hundred day simple moving average of $1,621.30. 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 $22.47 billion, a PE ratio of 8.06 and a beta of 0.78. Markel Group Inc. has a one year low of $1,342.66 and a one year high of $1,809.11.

Markel Group (NYSE:MKL) last announced 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.74 billion. On average, analysts predict that Markel Group Inc. will post 86.73 EPS for the current fiscal year.

Markel Group Company 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.