Pensionfund Sabic Cuts Stock Position in Markel Group Inc. $MKL

Key Points

• Pensionfund Sabic has reduced its ownership in Markel Group Inc. by 24.2%, now holding 720 shares worth approximately $1.35 million after selling 230 shares in the first quarter.
• Analysts have upgraded Markel Group's stock rating from "hold" to "buy," with a consensus price target set at $1,820.33.
• Markel Group reported a 24.3% year-over-year revenue increase for its most recent quarter, achieving $4.82 billion in revenue and $25.46 EPS, surpassing estimates.

Pensionfund Sabic cut its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 24.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 720 shares of the insurance provider's stock after selling 230 shares during the quarter. Pensionfund Sabic's holdings in Markel Group were worth $1,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AG2R LA Mondiale Gestion D Actifs purchased a new position in Markel Group during the first quarter worth $1,074,000. Swedbank AB boosted its stake in Markel Group by 879.9% during the first quarter. Swedbank AB now owns 10,936 shares of the insurance provider's stock worth $20,446,000 after buying an additional 9,820 shares during the period. Voya Investment Management LLC boosted its stake in Markel Group by 0.5% during the first quarter. Voya Investment Management LLC now owns 2,732 shares of the insurance provider's stock worth $5,108,000 after buying an additional 14 shares during the period. Modern Wealth Management LLC boosted its stake in Markel Group by 2.0% during the first quarter. Modern Wealth Management LLC now owns 1,473 shares of the insurance provider's stock worth $2,754,000 after buying an additional 29 shares during the period. Finally, Anson Funds Management LP boosted its stake in Markel Group by 31.4% during the first quarter. Anson Funds Management LP now owns 414 shares of the insurance provider's stock worth $774,000 after buying an additional 99 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Markel Group Stock Down 0.4%

Shares of MKL traded down $8.05 during midday trading on Tuesday, reaching $1,918.24. 42,433 shares of the stock were exchanged, compared to its average volume of 55,193. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. The company's 50 day moving average is $1,965.13 and its two-hundred day moving average is $1,906.83. The company has a market capitalization of $24.27 billion, a P/E ratio of 11.50 and a beta of 0.82. Markel Group Inc. has a 52 week low of $1,521.25 and a 52 week high of $2,075.92.

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