Norges Bank Invests $317.58 Million in Markel Group Inc. $MKL

Norges Bank acquired a new position in Markel Group Inc. (NYSE:MKL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 147,737 shares of the insurance provider’s stock, valued at approximately $317,583,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new stake in Markel Group in the 4th quarter valued at about $25,000. Fideuram Asset Management Ireland dac bought a new stake in Markel Group in the 4th quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Markel Group in the 4th quarter valued at about $32,000. Basepoint Wealth LLC bought a new stake in Markel Group in the 4th quarter valued at about $32,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Markel Group in the 3rd quarter valued at about $29,000. 77.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MKL. Truist Financial decreased their price objective on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Wall Street Zen cut Markel Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded shares of Markel Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Brean Capital assumed coverage on shares of Markel Group in a report on Tuesday, March 24th. They set a “neutral” rating and a $2,100.00 price objective on the stock. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2,025.00.

Insider Activity at Markel Group

In related news, Director Greta J. Harris sold 76 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $1,847.31, for a total value of $140,395.56. Following the transaction, the director owned 645 shares in the company, valued at approximately $1,191,514.95. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Leopold acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $1,792.61 per share, for a total transaction of $179,261.00. Following the purchase, the director owned 2,190 shares of the company’s stock, valued at $3,925,815.90. The trade was a 4.78% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.08% of the stock is currently owned by corporate insiders.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,792.47 on Tuesday. Markel Group Inc. has a twelve month low of $1,719.41 and a twelve month high of $2,207.59. The stock’s 50 day moving average price is $1,880.99 and its 200-day moving average price is $2,005.27. The company has a market capitalization of $22.42 billion, a PE ratio of 12.92 and a beta of 0.67. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.24.

Markel Group (NYSE:MKL) last announced its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.66 billion. On average, equities analysts anticipate that Markel Group Inc. will post 113.55 EPS for the current year.

About Markel Group

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.