Royal Bank of Canada Forecasts Strong Price Appreciation for Markel Group (NYSE:MKL) Stock

Markel Group (NYSE:MKL) had its price objective increased by Royal Bank of Canada from $1,750.00 to $2,025.00 in a research note released on Friday,Benzinga reports. They currently have a sector perform rating on the insurance provider’s stock.

MKL has been the subject of several other research reports. TD Cowen downgraded Markel Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. StockNews.com raised shares of Markel Group from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1,685.17.

Markel Group Stock Down 1.6 %

Shares of NYSE MKL opened at $2,027.51 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The company has a 50-day moving average price of $1,766.15 and a 200-day moving average price of $1,652.84. The stock has a market capitalization of $26.08 billion, a P/E ratio of 10.19 and a beta of 0.78. Markel Group has a 1 year low of $1,405.11 and a 1 year high of $2,063.68.

Markel Group (NYSE:MKL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share for the quarter, missing the consensus estimate of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. On average, equities research analysts forecast that Markel Group will post 97.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $2,008.01 per share, for a total transaction of $200,801.00. Following the completion of the acquisition, the chief executive officer now owns 48,945 shares of the company’s stock, valued at approximately $98,282,049.45. This represents a 0.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Davis Selected Advisers grew its holdings in Markel Group by 27.9% during the fourth quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider’s stock valued at $639,606,000 after purchasing an additional 80,922 shares during the period. State Street Corp lifted its position in shares of Markel Group by 4.2% during the 3rd quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock valued at $516,391,000 after buying an additional 13,372 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Markel Group by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 209,054 shares of the insurance provider’s stock worth $327,131,000 after acquiring an additional 10,254 shares during the period. Proficio Capital Partners LLC purchased a new stake in Markel Group in the 4th quarter worth about $169,852,000. Finally, Jennison Associates LLC raised its stake in Markel Group by 9.9% in the 4th quarter. Jennison Associates LLC now owns 78,735 shares of the insurance provider’s stock valued at $135,915,000 after acquiring an additional 7,102 shares during the period. 77.12% of the stock is owned by 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.