Assenagon Asset Management S.A. Has $16.67 Million Stock Holdings in Markel Group Inc. $MKL

Key Points

• Assenagon Asset Management S.A. increased its stake in Markel Group Inc. by 91.2%, now holding approximately $16.67 million worth of stock following an additional purchase of shares.
• Markel Group reported a 24.3% year-over-year revenue growth with $4.82 billion in revenue and an EPS of $25.46, exceeding analyst expectations.
• Argus upgraded Markel Group's rating from "hold" to "buy," contributing to a consensus rating of "Hold" with a price target of $1,820.33.

Assenagon Asset Management S.A. boosted its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 91.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,345 shares of the insurance provider's stock after buying an additional 3,980 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Markel Group worth $16,668,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Select Equity Group L.P. acquired a new stake in Markel Group during the 1st quarter worth $357,512,000. GAMMA Investing LLC raised its stake in Markel Group by 210,656.4% during the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock worth $216,718,000 after buying an additional 115,861 shares during the period. Epoch Investment Partners Inc. raised its stake in Markel Group by 49.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 108,019 shares of the insurance provider's stock worth $201,953,000 after buying an additional 35,786 shares during the period. Nuveen LLC acquired a new stake in Markel Group during the 1st quarter worth $45,796,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in Markel Group by 20.1% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,076 shares of the insurance provider's stock worth $273,105,000 after purchasing an additional 24,487 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus raised Markel Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Markel Group has a consensus rating of "Hold" and a consensus price target of $1,820.33.

Markel Group Stock Down 1.0%

NYSE MKL opened at $1,915.04 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. Markel Group Inc. has a 1-year low of $1,521.25 and a 1-year high of $2,075.92. The company has a 50 day moving average of $1,960.04 and a 200-day moving average of $1,907.77. The company has a market cap of $24.23 billion, a price-to-earnings ratio of 11.49 and a beta of 0.82.

Markel Group (NYSE:MKL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $25.46 EPS for the quarter, beating the consensus estimate of $24.74 by $0.72. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business earned $18.62 earnings per share. The company's revenue was up 24.3% on a year-over-year basis. On average, equities research analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

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.

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