Markel Group (NYSE:MKL) Hits New 1-Year High – Here’s What Happened

Shares of Markel Group Inc. (NYSE:MKL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $1,819.60 and last traded at $1,813.34, with a volume of 2967 shares changing hands. The stock had previously closed at $1,811.06.

Analysts Set New Price Targets

A number of research firms have recently commented on MKL. StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen lowered Markel Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. Jefferies Financial Group raised their target price on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered their price target on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Markel Group currently has a consensus rating of “Hold” and an average target price of $1,626.83.

Markel Group Stock Down 0.2 %

The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 8.44 and a beta of 0.78. The firm has a fifty day moving average price of $1,745.78 and a 200 day moving average price of $1,636.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 EPS for the quarter, missing analysts’ consensus estimates of $21.97 by ($4.63). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.74 billion. Sell-side analysts anticipate that Markel Group Inc. will post 86.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKL. SpiderRock Advisors LLC raised its stake in shares of Markel Group by 199.4% in the third quarter. SpiderRock Advisors LLC now owns 473 shares of the insurance provider’s stock worth $742,000 after acquiring an additional 315 shares during the last quarter. Versor Investments LP raised its position in Markel Group by 72.4% in the 3rd quarter. Versor Investments LP now owns 381 shares of the insurance provider’s stock worth $598,000 after purchasing an additional 160 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in Markel Group by 25.2% during the 4th quarter. Fiduciary Alliance LLC now owns 1,881 shares of the insurance provider’s stock worth $3,247,000 after buying an additional 379 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Markel Group in the 2nd quarter valued at $2,803,000. Finally, Franklin Resources Inc. increased its stake in shares of Markel Group by 10.4% in the 3rd 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. Institutional investors and hedge funds own 77.12% of the company’s stock.

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.