Markel Group Inc. $MKL Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Markel Group stake by 11.5% in the third quarter, bringing its holdings to 6,939 shares valued at approximately $11.9 million.
• Institutional investors and hedge funds own 77.12% of Markel’s outstanding stock, with several other firms recently initiating or expanding positions.
• Analysts have a mixed outlook on MKL, resulting in an overall “Hold” consensus rating and an average price target of $2,025, compared with the stock’s opening price of $1,857.19.

Assenagon Asset Management S.A. raised its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 11.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,939 shares of the insurance provider's stock after buying an additional 713 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of Markel Group worth $11,883,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new position in Markel Group in the 4th quarter worth about $26,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Markel Group in the second quarter worth approximately $31,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Markel Group in the second quarter worth approximately $39,000. NFSG Corp purchased a new position in shares of Markel Group in the first quarter worth approximately $40,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Markel Group by 100.0% during the third quarter. Fortitude Family Office LLC now owns 22 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Analysts Set New Price Targets

MKL has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on shares of Markel Group in a research note on Wednesday, July 1st. They issued an "underperform" rating for the company. Weiss Ratings raised shares of Markel Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Wall Street Zen upgraded Markel Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2,025.00.

Markel Group Stock Performance

Shares of MKL opened at $1,857.19 on Tuesday. The company's fifty day moving average is $1,789.36 and its 200-day moving average is $1,857.09. Markel Group Inc. has a 12 month low of $1,704.17 and a 12 month high of $2,207.59. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 17.38 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.23.

Markel Group Profile

Markel Group Inc NYSE: MKL is a diversified holding company focused on specialty insurance, reinsurance, investments and industrial businesses. Through its insurance operations, the company provides coverage for risks that may be complex, specialized or underserved by standard insurance markets.

Markel's insurance offerings include property and casualty coverage, professional liability, marine and energy insurance, workers' compensation, and other specialty products. Its reinsurance business assumes portions of risk from other insurers.

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