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 trading on Thursday . The company traded as high as $1,698.50 and last traded at $1,698.50, with a volume of 3111 shares traded. The stock had previously closed at $1,655.36.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MKL. StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup boosted their target price on Markel Group from $1,435.00 to $1,450.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group increased their price target on shares of Markel Group from $1,590.00 to $1,600.00 and gave the company a “hold” rating in a research note 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1,651.83.

Markel Group Stock Performance

The company has a market cap of $21.96 billion, a price-to-earnings ratio of 7.88 and a beta of 0.73. The firm has a 50-day simple moving average of $1,577.60 and a 200 day simple moving average of $1,578.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.74 billion. On average, sell-side analysts predict that Markel Group Inc. will post 89.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Markel Group during the third quarter worth $31,000. Toth Financial Advisory Corp increased its holdings in shares of Markel Group by 1,000.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 22 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Markel Group in the third quarter valued at about $36,000. UMB Bank n.a. boosted its holdings in Markel Group by 833.3% during the third quarter. UMB Bank n.a. now owns 28 shares of the insurance provider’s stock worth $44,000 after buying an additional 25 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Markel Group during the second quarter worth about $45,000. 77.12% of the stock is currently owned by institutional investors and hedge funds.

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.