IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Markel Group Inc. (NYSE:MKL)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in shares of Markel Group Inc. (NYSE:MKL) by 7.4% during the third quarter, HoldingsChannel reports. The fund owned 1,560 shares of the insurance provider’s stock after selling 125 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Markel Group were worth $2,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Markel Group by 6.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 9,884 shares of the insurance provider’s stock worth $15,574,000 after purchasing an additional 558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Markel Group by 2.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 31,819 shares of the insurance provider’s stock worth $48,412,000 after acquiring an additional 888 shares during the period. Solitude Financial Services purchased a new position in Markel Group in the second quarter worth $1,182,000. Sei Investments Co. lifted its holdings in Markel Group by 41.7% in the first quarter. Sei Investments Co. now owns 4,308 shares of the insurance provider’s stock valued at $6,554,000 after acquiring an additional 1,268 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Markel Group by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,336 shares of the insurance provider’s stock worth $12,684,000 after purchasing an additional 359 shares in the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Markel Group Stock Performance

Shares of MKL opened at $1,574.60 on Thursday. Markel Group Inc. has a 12-month low of $1,295.65 and a 12-month high of $1,670.24. The stock has a market cap of $20.47 billion, a P/E ratio of 8.50 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $1,560.90 and a two-hundred day moving average of $1,560.44.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $25.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $20.76 by $5.19. Markel Group had a return on equity of 11.12% and a net margin of 13.00%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.86 billion. As a group, research analysts predict that Markel Group Inc. will post 89.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MKL has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Citigroup lifted their price target on shares of Markel Group from $1,435.00 to $1,450.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen started coverage on Markel Group in a report on Tuesday, July 9th. They issued a “buy” rating and a $1,986.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,643.50.

Insider Transactions at Markel Group

In related news, Director Lawrence A. Cunningham acquired 20 shares of Markel Group stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $1,512.50 per share, for a total transaction of $30,250.00. Following the completion of the transaction, the director now directly owns 743 shares of the company’s stock, valued at $1,123,787.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.71% of the company’s stock.

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.