AdvisorNet Financial Inc Sells 6 Shares of Markel Group Inc. (NYSE:MKL)

AdvisorNet Financial Inc trimmed its holdings in shares of Markel Group Inc. (NYSE:MKL) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340 shares of the insurance provider’s stock after selling 6 shares during the quarter. AdvisorNet Financial Inc’s holdings in Markel Group were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SpiderRock Advisors LLC lifted its holdings in shares of Markel Group by 199.4% during the third quarter. SpiderRock Advisors LLC now owns 473 shares of the insurance provider’s stock worth $742,000 after purchasing an additional 315 shares during the period. Versor Investments LP lifted its holdings in Markel Group by 72.4% during the 3rd quarter. Versor Investments LP now owns 381 shares of the insurance provider’s stock worth $598,000 after buying an additional 160 shares during the period. Sanctuary Advisors LLC acquired a new position in Markel Group during the 2nd quarter worth about $2,803,000. Franklin Resources Inc. increased its stake in shares of Markel Group by 10.4% in the third quarter. Franklin Resources Inc. now owns 5,571 shares of the insurance provider’s stock valued at $8,736,000 after buying an additional 527 shares during the period. Finally, State Street Corp lifted its stake in shares of Markel Group by 4.2% in the third quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock worth $516,391,000 after acquiring an additional 13,372 shares during the period. 77.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com upgraded Markel Group from a “hold” rating to a “buy” rating in a report on Monday, December 30th. TD Cowen lowered shares of Markel Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Royal Bank of Canada decreased their price target on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Jefferies Financial Group boosted their price objective on Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Markel Group has an average rating of “Hold” and a consensus price target of $1,626.83.

Markel Group Stock Performance

Shares of MKL opened at $1,747.27 on Thursday. The stock has a 50-day moving average of $1,722.73 and a 200-day moving average of $1,621.30. Markel Group Inc. has a one year low of $1,342.66 and a one year high of $1,809.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $22.47 billion, a PE ratio of 8.06 and a beta of 0.78.

Markel Group (NYSE:MKL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 EPS for the quarter, missing the consensus estimate of $21.97 by ($4.63). Markel Group had a net margin of 17.03% and a return on equity of 10.86%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.74 billion. On average, equities research analysts predict that Markel Group Inc. will post 86.73 EPS for the current fiscal year.

About Markel Group

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.