Resona Asset Management Co. Ltd. Sells 154 Shares of Markel Group Inc. $MKL

Resona Asset Management Co. Ltd. trimmed its holdings in Markel Group Inc. (NYSE:MKL) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,653 shares of the insurance provider’s stock after selling 154 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Markel Group were worth $9,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC grew its position in shares of Markel Group by 183.3% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 11 shares during the period. Atlas Capital Advisors Inc. bought a new position in Markel Group in the first quarter valued at approximately $32,000. Chilton Capital Management LLC acquired a new position in shares of Markel Group in the second quarter valued at approximately $32,000. Ameritas Advisory Services LLC bought a new stake in shares of Markel Group during the second quarter worth $38,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Markel Group during the first quarter worth $64,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MKL shares. Cowen reaffirmed a “hold” rating on shares of Markel Group in a research report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Markel Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Markel Group has a consensus rating of “Hold” and a consensus price target of $1,930.50.

Markel Group Stock Up 1.4%

Shares of MKL stock opened at $2,037.13 on Friday. The firm’s fifty day moving average price is $1,929.43 and its two-hundred day moving average price is $1,936.43. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.25. Markel Group Inc. has a 1 year low of $1,621.89 and a 1 year high of $2,075.92. The firm has a market capitalization of $25.69 billion, a P/E ratio of 12.75 and a beta of 0.77.

Markel Group (NYSE:MKL) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $30.90 earnings per share for the quarter, beating the consensus estimate of $22.77 by $8.13. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Markel Group had a return on equity of 7.91% and a net margin of 12.99%. On average, equities analysts predict that Markel Group Inc. will post 96.25 EPS for the current fiscal 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.