KLP Kapitalforvaltning AS Acquires Shares of 4,520 Markel Group Inc. (NYSE:MKL)

KLP Kapitalforvaltning AS acquired a new position in Markel Group Inc. (NYSE:MKL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,520 shares of the insurance provider’s stock, valued at approximately $7,803,000.

Several other large investors also recently made changes to their positions in MKL. Proficio Capital Partners LLC bought a new stake in Markel Group during the 4th quarter worth about $169,852,000. Davis Selected Advisers lifted 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 purchasing an additional 80,922 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Markel Group during the fourth quarter valued at approximately $98,743,000. Boston Partners increased its holdings in shares of Markel Group by 17.6% in the fourth quarter. Boston Partners now owns 281,820 shares of the insurance provider’s stock valued at $486,580,000 after purchasing an additional 42,178 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new position in Markel Group in the 4th quarter worth approximately $54,173,000. Institutional investors own 77.12% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas Sinnickson Gayner purchased 100 shares of Markel Group stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $2,008.01 per share, for a total transaction of $200,801.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,945 shares of the company’s stock, valued at $98,282,049.45. This represents a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Markel sold 1,146 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the completion of the transaction, the director now directly owns 63,722 shares of the company’s stock, valued at approximately $118,426,699.78. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,034 shares of company stock worth $3,778,952. Corporate insiders own 1.71% of the company’s stock.

Markel Group Stock Up 1.8 %

Shares of Markel Group stock opened at $1,870.21 on Tuesday. The business has a fifty day simple moving average of $1,856.87 and a 200 day simple moving average of $1,721.35. The stock has a market cap of $23.88 billion, a PE ratio of 9.40 and a beta of 0.82. 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 Inc. has a 12 month low of $1,417.65 and a 12 month high of $2,063.68.

Markel Group (NYSE:MKL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share (EPS) 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%. Research analysts predict that Markel Group Inc. will post 96.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com lowered Markel Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised 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. 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 research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Markel Group presently has an average rating of “Hold” and an average target price of $1,702.20.

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.