Markel Group Inc. $MKL Stock: Sumitomo Mitsui Trust Group Inc. Reduces Stake

Key Points

• Sumitomo Mitsui Trust Group reduced its Markel stake by 2.8% in the third quarter, selling 717 shares. It retained 24,954 shares, valued at about $42.7 million.
• Markel shares opened at $1,952.22, up 2.8%; the stock’s 52-week range is $1,704.17–$2,207.59.
• Analyst sentiment is cautious: four analysts rate the stock Hold and one rates it Sell, giving Markel an average “Reduce” rating and a consensus price target of $2,025.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,954 shares of the insurance provider's stock after selling 717 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Markel Group worth $42,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Markel Group in the 3rd quarter valued at $58,000. Soltis Investment Advisors LLC bought a new position in shares of Markel Group in the third quarter valued at about $1,498,000. D.A. Davidson & CO. raised its position in shares of Markel Group by 4.2% in the third quarter. D.A. Davidson & CO. now owns 1,737 shares of the insurance provider's stock valued at $2,975,000 after buying an additional 70 shares in the last quarter. North Dakota State Investment Board boosted its position in shares of Markel Group by 2.2% during the 3rd quarter. North Dakota State Investment Board now owns 378 shares of the insurance provider's stock worth $647,000 after acquiring an additional 8 shares in the last quarter. Finally, MADDEN SECURITIES Corp acquired a new position in Markel Group during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Stock Up 2.8%

MKL stock opened at $1,952.22 on Thursday. Markel Group Inc. has a fifty-two week low of $1,704.17 and a fifty-two week high of $2,207.59. The business's 50-day moving average is $1,805.09 and its two-hundred day moving average is $1,896.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 13.87 and a beta of 0.60.

Wall Street Analysts Forecast Growth

MKL has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Markel Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings lowered Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 28th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $2,025.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.