Markel Group (NYSE:MKL) Hits New 52-Week High – Time to Buy?

Markel Group Inc. (NYSE:MKL) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $1,811.71 and last traded at $1,804.41, with a volume of 12228 shares trading hands. The stock had previously closed at $1,774.07.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group upped their target price 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. TD Cowen cut shares of Markel Group from a “buy” rating to a “hold” rating and cut their target price for the company from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. Finally, StockNews.com upgraded shares of Markel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 30th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1,626.83.

Markel Group Stock Down 0.1 %

The company has a market cap of $23.25 billion, a price-to-earnings ratio of 8.34 and a beta of 0.78. The stock has a fifty day moving average price of $1,736.21 and a two-hundred day moving average price of $1,629.25. 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 released its earnings results on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $21.97 by ($4.63). Markel Group had a net margin of 17.03% and a return on equity of 10.86%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.74 billion. As a group, sell-side analysts expect that Markel Group Inc. will post 86.92 EPS for the current year.

Hedge Funds Weigh In On Markel Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MKL. Amalgamated Bank lifted its stake in Markel Group by 106.4% in the second quarter. Amalgamated Bank now owns 1,527 shares of the insurance provider’s stock valued at $2,406,000 after buying an additional 787 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Markel Group by 65.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 229 shares of the insurance provider’s stock valued at $361,000 after buying an additional 91 shares during the period. AE Wealth Management LLC raised its position in shares of Markel Group by 20.5% during the second quarter. AE Wealth Management LLC now owns 194 shares of the insurance provider’s stock worth $306,000 after purchasing an additional 33 shares during the period. Sei Investments Co. raised its position in shares of Markel Group by 65.6% during the second quarter. Sei Investments Co. now owns 7,133 shares of the insurance provider’s stock worth $11,239,000 after purchasing an additional 2,825 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in shares of Markel Group by 7.2% during the second quarter. Ensign Peak Advisors Inc now owns 5,747 shares of the insurance provider’s stock worth $9,055,000 after purchasing an additional 385 shares during the period. 77.12% of the stock is owned by institutional investors and hedge funds.

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.