Norges Bank Invests $254.80 Million in Markel Group Inc. (NYSE:MKL)

Norges Bank purchased a new stake in Markel Group Inc. (NYSE:MKL) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 147,602 shares of the insurance provider’s stock, valued at approximately $254,795,000. Norges Bank owned approximately 1.15% of Markel Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Markel Group in the third quarter valued at approximately $31,000. FPC Investment Advisory Inc. acquired a new position in Markel Group in the 4th quarter valued at $37,000. SBI Securities Co. Ltd. purchased a new position in Markel Group in the 4th quarter valued at $36,000. Larson Financial Group LLC acquired a new stake in Markel Group during the 3rd quarter worth $36,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Markel Group during the fourth quarter worth $41,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas Sinnickson Gayner acquired 100 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $2,008.01 per share, with a total value of $200,801.00. Following the transaction, the chief executive officer now owns 48,945 shares of the company’s stock, valued at approximately $98,282,049.45. This trade represents a 0.20 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Markel sold 88 shares of Markel Group stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,860.03, for a total transaction of $163,682.64. Following the completion of the sale, the director now owns 63,436 shares of the company’s stock, valued at $117,992,863.08. This trade represents a 0.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,034 shares of company stock valued at $3,778,952. 1.71% of the stock is currently owned by insiders.

Markel Group Stock Performance

NYSE:MKL opened at $1,853.88 on Friday. The company’s 50-day moving average is $1,865.72 and its two-hundred day moving average is $1,729.19. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 9.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. Markel Group Inc. has a 1-year low of $1,417.65 and a 1-year high of $2,063.68.

Markel Group (NYSE:MKL) last issued its quarterly earnings data 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 return on equity of 7.55% and a net margin of 16.34%. Analysts forecast that Markel Group Inc. will post 96.25 EPS for the current year.

Wall Street Analysts Forecast Growth

MKL has been the topic of a number of recent research reports. TD Cowen lowered shares of Markel Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. Royal Bank of Canada boosted their target price on Markel Group from $1,750.00 to $2,025.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Finally, StockNews.com cut Markel Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1,702.20.

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.