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

Norges Bank bought a new position in shares of Markel Group Inc. (NYSE:MKL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 147,602 shares of the insurance provider’s stock, valued at approximately $254,795,000.

Other large investors also recently bought and sold shares of the company. Davis Selected Advisers grew its position in shares of Markel Group by 27.9% during the fourth quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider’s stock worth $639,606,000 after buying an additional 80,922 shares in the last quarter. State Street Corp lifted its stake in Markel Group by 4.2% in the third quarter. State Street Corp now owns 329,209 shares of the insurance provider’s stock worth $516,391,000 after acquiring an additional 13,372 shares during the last quarter. Boston Partners grew its holdings in Markel Group by 17.6% during the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider’s stock worth $486,580,000 after acquiring an additional 42,178 shares in the last quarter. Geode Capital Management LLC increased its position 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. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Markel Group in the 4th quarter valued at $169,852,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Down 0.9 %

Markel Group stock opened at $1,853.88 on Friday. The company has a market capitalization of $23.67 billion, a P/E ratio of 9.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. Markel Group Inc. has a fifty-two week low of $1,417.65 and a fifty-two week high of $2,063.68. The stock has a 50-day simple moving average of $1,865.72 and a 200-day simple moving average of $1,729.19.

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 analysts’ consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. Equities research analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average price of $2,008.01 per share, for a total transaction of $200,801.00. Following the transaction, the chief executive officer now directly owns 48,945 shares of the company’s stock, valued at approximately $98,282,049.45. The trade was a 0.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven A. Markel sold 800 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $1,856.80, for a total value of $1,485,440.00. Following the sale, the director now directly owns 64,868 shares of the company’s stock, valued at $120,446,902.40. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,034 shares of company stock worth $3,778,952 in the last 90 days. Company insiders own 1.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MKL. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. TD Cowen lowered Markel Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $1,986.00 to $1,836.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada upped their price target on Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, Markel Group currently has a consensus rating of “Hold” and a consensus price target of $1,702.20.

Markel Group 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.