Markel Group (NYSE:MKL) Shares Up 5.9% – Here’s Why

Shares of Markel Group Inc. (NYSE:MKL) rose 5.9% during mid-day trading on Thursday . The company traded as high as $1,983.81 and last traded at $1,969.41. Approximately 5,487 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 64,810 shares. The stock had previously closed at $1,860.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Markel Group from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen downgraded Markel Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Finally, Royal Bank of Canada increased their target price on Markel Group from $1,750.00 to $2,025.00 and gave the stock a “sector perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1,685.17.

Markel Group Stock Down 1.6 %

The company has a market cap of $26.07 billion, a P/E ratio of 10.19 and a beta of 0.78. 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 business’s 50 day moving average price is $1,761.26 and its 200-day moving average price is $1,648.97.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. On average, analysts anticipate that Markel Group Inc. will post 97.92 earnings per share for the current fiscal year.

Insider Activity at Markel Group

In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $2,008.01 per share, with a total value of $200,801.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,945 shares in the company, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Markel Group during the fourth quarter valued at $169,852,000. Davis Selected Advisers raised its holdings in Markel Group by 27.9% during the 4th quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider’s stock worth $639,606,000 after purchasing an additional 80,922 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Markel Group during the 4th quarter valued at about $98,743,000. Empirical Asset Management LLC bought a new position in shares of Markel Group in the 4th quarter valued at about $54,173,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Markel Group by 3,729.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,896 shares of the insurance provider’s stock worth $23,366,000 after buying an additional 14,507 shares during the period. 77.12% of the stock is currently owned by institutional investors.

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.