Norges Bank Buys New Position in Markel Group Inc. (NYSE:MKL)

Norges Bank acquired a new position in Markel Group Inc. (NYSE:MKL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 147,602 shares of the insurance provider's stock, valued at approximately $254,795,000. Norges Bank owned about 1.15% of Markel Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MKL. Private Trust Co. NA grew its position in shares of Markel Group by 23.1% in the 4th quarter. Private Trust Co. NA now owns 32 shares of the insurance provider's stock valued at $55,000 after buying an additional 6 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in Markel Group by 4.3% in the fourth quarter. Wellington Shields & Co. LLC now owns 145 shares of the insurance provider's stock valued at $250,000 after acquiring an additional 6 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in Markel Group by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 428 shares of the insurance provider's stock valued at $739,000 after acquiring an additional 7 shares during the last quarter. Greenleaf Trust increased its position in Markel Group by 3.4% during the 4th quarter. Greenleaf Trust now owns 213 shares of the insurance provider's stock valued at $368,000 after purchasing an additional 7 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in Markel Group by 1.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 469 shares of the insurance provider's stock worth $810,000 after purchasing an additional 7 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other Markel Group news, Director Steven A. Markel sold 800 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $1,856.80, for a total transaction of $1,485,440.00. Following the transaction, the director now owns 64,868 shares in the company, valued at approximately $120,446,902.40. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Sinnickson Gayner acquired 100 shares of Markel Group stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $2,008.01 per share, with a total value 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 approximately $98,282,049.45. The trade was a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,034 shares of company stock worth $3,778,952 in the last three months. Company insiders own 1.71% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Markel Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on shares of Markel Group from $1,750.00 to $2,025.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $1,702.20.

Markel Group Trading Down 1.6 %

Shares of MKL stock traded down $29.50 during trading hours on Thursday, hitting $1,849.44. 10,159 shares of the company were exchanged, compared to its average volume of 47,223. The company has a 50 day simple moving average of $1,870.34 and a two-hundred day simple moving average of $1,735.98. The firm has a market cap of $23.62 billion, a P/E ratio of 9.29 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.

Markel Group (NYSE:MKL - Get Free Report) last issued 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%. Equities analysts anticipate that Markel Group Inc. will post 96.25 EPS 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.