Markel Group (NYSE:MKL) Hits New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

MKL has been the subject of a number of analyst reports. StockNews.com raised Markel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 30th. TD Cowen downgraded shares of Markel Group from a “buy” rating to a “hold” rating and reduced 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 price objective on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price objective on shares of Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1,626.83.

Markel Group Price Performance

The company has a market capitalization of $23.54 billion, a P/E ratio of 8.46 and a beta of 0.78. The business’s 50-day simple moving average is $1,740.16 and its 200 day simple moving average is $1,633.36. 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 results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share for the quarter, missing the consensus estimate of $21.97 by ($4.63). Markel Group had a net margin of 17.03% and a return on equity of 10.86%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.74 billion. As a group, sell-side analysts anticipate that Markel Group Inc. will post 86.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Empirical Asset Management LLC bought a new stake in Markel Group during the 4th quarter valued at approximately $54,173,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Markel Group by 3,729.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,896 shares of the insurance provider’s stock worth $23,366,000 after acquiring an additional 14,507 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Markel Group by 167.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 22,411 shares of the insurance provider’s stock worth $38,687,000 after buying an additional 14,022 shares during the period. State Street Corp grew its position in shares of Markel Group by 4.2% in the 3rd quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock valued at $516,391,000 after purchasing an additional 13,372 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Markel Group by 156,757.1% in the third quarter. International Assets Investment Management LLC now owns 10,980 shares of the insurance provider’s stock valued at $17,223,000 after purchasing an additional 10,973 shares during the last quarter. 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.