Norges Bank Takes Position in Markel Group Inc. (NYSE:MKL)

Norges Bank bought a new position in Markel Group Inc. (NYSE:MKL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 150,867 shares of the insurance provider’s stock, valued at approximately $214,216,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Markel Group during the 4th quarter valued at about $18,145,000. Pinnacle Associates Ltd. increased its stake in Markel Group by 7.1% in the 4th quarter. Pinnacle Associates Ltd. now owns 17,656 shares of the insurance provider’s stock valued at $25,070,000 after buying an additional 1,167 shares during the period. Chicago Capital LLC purchased a new stake in Markel Group in the 4th quarter worth approximately $3,313,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Markel Group by 616.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,219 shares of the insurance provider’s stock valued at $5,991,000 after buying an additional 3,630 shares during the period. Finally, Lathrop Investment Management Corp grew its holdings in shares of Markel Group by 11.7% during the 4th quarter. Lathrop Investment Management Corp now owns 7,776 shares of the insurance provider’s stock valued at $11,041,000 after acquiring an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Performance

Shares of NYSE MKL opened at $1,648.60 on Thursday. The business’s 50-day simple moving average is $1,526.73 and its 200-day simple moving average is $1,462.73. Markel Group Inc. has a 52 week low of $1,295.65 and a 52 week high of $1,670.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 8.90 and a beta of 0.69.

Markel Group (NYSE:MKL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.62 billion. Markel Group had a net margin of 15.23% and a return on equity of 11.18%. As a group, equities research analysts expect that Markel Group Inc. will post 83.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MKL has been the subject of several recent research reports. Truist Financial increased their price objective on Markel Group from $1,400.00 to $1,600.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Janney Montgomery Scott reaffirmed a “neutral” rating and set a $1,600.00 price target on shares of Markel Group in a research note on Friday, March 15th. Royal Bank of Canada boosted their price target on Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group lowered shares of Markel Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1,520.00.

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.