Royal Bank of Canada Boosts Markel Group (NYSE:MKL) Price Target to $1,625.00

Markel Group (NYSE:MKL) had its target price boosted by Royal Bank of Canada from $1,475.00 to $1,625.00 in a report released on Friday, Benzinga reports. The firm currently has a sector perform rating on the insurance provider’s stock.

Several other brokerages have also commented on MKL. Truist Financial boosted their price target on Markel Group from $1,400.00 to $1,600.00 and gave the stock a hold rating in a research note on Friday. Jefferies Financial Group lowered shares of Markel Group from a buy rating to a hold rating and decreased their price objective for the stock from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. Finally, Janney Montgomery Scott restated a neutral rating and set a $1,600.00 target price on shares of Markel Group in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $1,520.00.

Markel Group Price Performance

Shares of MKL traded up $10.56 during trading hours on Friday, reaching $1,591.62. The company had a trading volume of 46,511 shares, compared to its average volume of 48,916. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.25. Markel Group has a 12-month low of $1,295.65 and a 12-month high of $1,619.31. The firm has a 50 day simple moving average of $1,488.09 and a 200-day simple moving average of $1,444.75. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 8.54 and a beta of 0.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in Markel Group during the third quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. grew its holdings in Markel Group by 6.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,875 shares of the insurance provider’s stock valued at $2,761,000 after buying an additional 111 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Markel Group by 43.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,859 shares of the insurance provider’s stock valued at $4,210,000 after acquiring an additional 864 shares during the last quarter. Xponance Inc. increased its stake in shares of Markel Group by 16.5% during the 3rd quarter. Xponance Inc. now owns 545 shares of the insurance provider’s stock valued at $803,000 after acquiring an additional 77 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Markel Group by 4.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,017 shares of the insurance provider’s stock worth $36,837,000 after acquiring an additional 1,061 shares during the period. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

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.