KLP Kapitalforvaltning AS Invests $7.80 Million in Markel Group Inc. (NYSE:MKL)

KLP Kapitalforvaltning AS purchased a new stake in Markel Group Inc. (NYSE:MKL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,520 shares of the insurance provider's stock, valued at approximately $7,803,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sei Investments Co. increased its stake in Markel Group by 0.9% during the fourth quarter. Sei Investments Co. now owns 7,067 shares of the insurance provider's stock worth $12,199,000 after acquiring an additional 63 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Markel Group by 21.8% in the fourth quarter. American Century Companies Inc. now owns 15,938 shares of the insurance provider's stock valued at $27,513,000 after purchasing an additional 2,854 shares during the period. Fi3 FINANCIAL ADVISORS LLC grew its stake in shares of Markel Group by 2.5% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 705 shares of the insurance provider's stock valued at $1,217,000 after acquiring an additional 17 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Markel Group during the fourth quarter worth about $697,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of Markel Group by 5.6% in the fourth quarter. TD Private Client Wealth LLC now owns 882 shares of the insurance provider's stock worth $1,523,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Insiders Place Their Bets

In other news, CEO Thomas Sinnickson Gayner bought 100 shares of the business's stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $2,008.01 per share, with a total value of $200,801.00. Following the purchase, the chief executive officer now directly owns 48,945 shares in the company, valued at $98,282,049.45. This trade represents a 0.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Markel sold 88 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $1,860.03, for a total value of $163,682.64. Following the sale, the director now owns 63,436 shares of the company's stock, valued at $117,992,863.08. The trade was a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,034 shares of company stock worth $3,778,952. 1.71% of the stock is owned by insiders.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have issued reports on MKL shares. Royal Bank of Canada lifted their price objective on Markel Group from $1,750.00 to $2,025.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. TD Cowen downgraded shares of Markel Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $1,986.00 to $1,836.00 in a report on Monday, December 2nd. Finally, StockNews.com cut shares of Markel Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Markel Group has a consensus rating of "Hold" and a consensus target price of $1,702.20.

Markel Group Price Performance

Shares of MKL stock traded down $6.16 during midday trading on Tuesday, reaching $1,863.65. 54,380 shares of the company were exchanged, compared to its average volume of 45,840. The company's 50 day moving average price is $1,856.87 and its two-hundred day moving average price is $1,721.35. The company has a market cap of $23.80 billion, a P/E ratio of 9.36 and a beta of 0.82. Markel Group Inc. has a 12 month low of $1,417.65 and a 12 month high of $2,063.68. 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 (NYSE:MKL - Get Free Report) last posted 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 7.55% and a net margin of 16.34%. On average, sell-side analysts expect that Markel Group Inc. will post 96.25 earnings per share for the current year.

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.