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

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

Analyst Ratings Changes

MKL has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on 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. Royal Bank of Canada cut their price target on 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. StockNews.com upgraded Markel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 30th. Finally, TD Cowen cut Markel Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. 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 stock. According to MarketBeat, Markel Group has a consensus rating of “Hold” and a consensus target price of $1,626.83.

Markel Group Trading Down 0.1 %

The firm has a 50-day moving average of $1,736.21 and a 200-day moving average of $1,629.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $23.25 billion, a P/E ratio of 8.34 and a beta of 0.78.

Markel Group (NYSE:MKL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $17.34 earnings per share for the quarter, missing analysts’ consensus estimates of $21.97 by ($4.63). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.74 billion. Markel Group had a return on equity of 10.86% and a net margin of 17.03%. On average, equities research analysts anticipate that Markel Group Inc. will post 86.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in Markel Group by 4.2% during the third 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 lifted its stake in shares of Markel Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 209,054 shares of the insurance provider’s stock valued at $327,131,000 after purchasing an additional 10,254 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Markel Group by 2.4% in the 3rd quarter. Jennison Associates LLC now owns 71,633 shares of the insurance provider’s stock valued at $112,362,000 after purchasing an additional 1,689 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Markel Group by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 55,718 shares of the insurance provider’s stock valued at $87,398,000 after purchasing an additional 766 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in shares of Markel Group by 0.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 46,214 shares of the insurance provider’s stock valued at $72,490,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

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.