Markel Group (NYSE:MKL) Hits New 52-Week High at $1,570.98

Markel Group Inc. (NYSE:MKL) shares reached a new 52-week high on Thursday . The stock traded as high as $1,570.98 and last traded at $1,555.94, with a volume of 57731 shares changing hands. The stock had previously closed at $1,476.34.

Wall Street Analysts Forecast Growth

MKL has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research report on Friday. Jefferies Financial Group cut Markel Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. Janney Montgomery Scott reissued a “neutral” rating and issued a $1,600.00 target price on shares of Markel Group in a research report on Friday, March 15th. Finally, Truist Financial upped their price target on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1,520.00.

Markel Group Stock Up 0.3 %

The company has a fifty day simple moving average of $1,488.09 and a 200-day simple moving average of $1,445.51. The company has a quick ratio of 0.62, a current ratio of 0.61 and a debt-to-equity ratio of 0.25. The firm has a market cap of $20.55 billion, a P/E ratio of 8.53 and a beta of 0.69.

Markel Group (NYSE:MKL) last released its earnings results on Wednesday, January 31st. The insurance provider reported $56.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $23.58 by $32.90. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.75 billion. Markel Group had a net margin of 15.23% and a return on equity of 11.18%. On average, equities analysts anticipate that Markel Group Inc. will post 80.08 earnings per share for the current year.

Hedge Funds Weigh In On Markel Group

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Markel Group during the 4th quarter valued at approximately $18,145,000. Pinnacle Associates Ltd. lifted its holdings in shares of 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 acquiring an additional 1,167 shares during the last quarter. Chicago Capital LLC purchased a new position in Markel Group in the fourth quarter worth about $3,313,000. Allspring Global Investments Holdings LLC raised its position in Markel Group by 616.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,219 shares of the insurance provider’s stock valued at $5,991,000 after purchasing an additional 3,630 shares during the period. Finally, Lathrop Investment Management Corp raised its holdings in 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 buying an additional 815 shares during the period. 77.12% of the stock is currently owned by hedge funds and other 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.