Markel Group Inc. $MKL Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of Markel Group Inc. (NYSE:MKL) by 7.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,038 shares of the insurance provider’s stock after purchasing an additional 75 shares during the quarter. Nordea Investment Management AB’s holdings in Markel Group were worth $2,059,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MKL. Sierra Ocean LLC purchased a new stake in Markel Group during the first quarter worth about $28,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Markel Group by 183.3% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 17 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 11 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of Markel Group during the 1st quarter worth approximately $32,000. Ameritas Advisory Services LLC acquired a new stake in shares of Markel Group in the 2nd quarter worth approximately $38,000. Finally, Wayfinding Financial LLC acquired a new position in Markel Group during the first quarter worth $54,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Markel Group Stock Down 1.2%

Shares of NYSE:MKL opened at $1,882.92 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $23.82 billion, a P/E ratio of 11.29 and a beta of 0.78. Markel Group Inc. has a 52-week low of $1,521.25 and a 52-week high of $2,075.92. The stock’s fifty day simple moving average is $1,935.11 and its 200-day simple moving average is $1,918.71.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $25.46 earnings per share for the quarter, beating the consensus estimate of $24.74 by $0.72. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. Markel Group had a net margin of 13.39% and a return on equity of 7.18%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $18.62 EPS. As a group, equities research analysts forecast that Markel Group Inc. will post 96.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Markel Group in a report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Markel Group in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Markel Group presently has an average rating of “Hold” and an average price target of $1,930.50.

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.