Markel Group Inc. $MKL Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in Markel Group Inc. by 31.3% in the first quarter, owning 12,112 shares valued at approximately $22.61 million after selling 5,511 shares.
• Markel Group's stock increased by 1.2%, with a current trading price of around $1,993.56, and it has a market capitalization of $25.22 billion.
• Analysts forecast growth for Markel Group, with a consensus rating of "Hold" and an anticipated earnings per share of 96.25 for the current fiscal year.

Hsbc Holdings PLC lowered its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,112 shares of the insurance provider's stock after selling 5,511 shares during the period. Hsbc Holdings PLC owned approximately 0.10% of Markel Group worth $22,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Markel Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,158,510 shares of the insurance provider's stock worth $2,165,962,000 after purchasing an additional 7,914 shares during the last quarter. Davis Selected Advisers lifted its stake in shares of Markel Group by 0.3% during the 1st quarter. Davis Selected Advisers now owns 371,469 shares of the insurance provider's stock valued at $694,502,000 after buying an additional 947 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Markel Group by 0.7% during the 4th quarter. Bank of America Corp DE now owns 140,997 shares of the insurance provider's stock valued at $243,393,000 after buying an additional 915 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Markel Group by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 118,851 shares of the insurance provider's stock valued at $222,177,000 after buying an additional 2,187 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Markel Group by 210,656.4% in the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock valued at $216,718,000 after acquiring an additional 115,861 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Stock Up 0.2%

Shares of MKL traded up $4.58 during mid-day trading on Friday, hitting $1,959.47. The company's stock had a trading volume of 30,211 shares, compared to its average volume of 45,181. The company's 50-day moving average is $1,976.85 and its 200-day moving average is $1,901.59. Markel Group Inc. has a 52-week low of $1,494.00 and a 52-week high of $2,075.92. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 11.75 and a beta of 0.82. 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 (NYSE:MKL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, topping the consensus estimate of $24.74 by $0.72. The firm had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The company's revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $18.62 EPS. On average, equities research analysts forecast that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $1,820.33.

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.