Markel Group (NYSE:MKL) Stock Price Up 5.9% – Here’s What Happened

Markel Group Inc. (NYSE:MKL)’s stock price rose 5.9% during mid-day trading on Thursday . The stock traded as high as $1,983.81 and last traded at $1,969.41. Approximately 5,487 shares traded hands during trading, a decline of 92% from the average daily volume of 64,810 shares. The stock had previously closed at $1,860.14.

Analyst Ratings Changes

MKL has been the subject of several research reports. TD Cowen cut shares of Markel Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $1,986.00 to $1,836.00 in a research note on Monday, December 2nd. Royal Bank of Canada lowered their price objective on Markel Group from $1,700.00 to $1,675.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on Markel Group from $1,590.00 to $1,600.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Markel Group presently has an average rating of “Hold” and a consensus target price of $1,626.83.

Markel Group Trading Up 8.4 %

The business’s fifty day moving average is $1,754.31 and its two-hundred day moving average is $1,644.61. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 9.31 and a beta of 0.78. 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 announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $20.51 EPS for the quarter, missing analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a return on equity of 10.86% and a net margin of 17.03%. Equities analysts anticipate that Markel Group Inc. will post 86.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Markel Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in shares of Markel Group in the 4th quarter valued at about $169,852,000. Empirical Asset Management LLC bought a new position in Markel Group during the fourth quarter worth about $54,173,000. Caisse DE Depot ET Placement DU Quebec grew its stake in Markel Group by 3,729.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,896 shares of the insurance provider’s stock valued at $23,366,000 after acquiring an additional 14,507 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Markel Group by 167.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 22,411 shares of the insurance provider’s stock worth $38,687,000 after purchasing an additional 14,022 shares during the period. Finally, State Street Corp grew its position in shares of Markel Group by 4.2% in the 3rd quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock valued at $516,391,000 after purchasing an additional 13,372 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.