Andra AP fonden Acquires 1,320 Shares of Markel Group Inc. $MKL

Key Points

• Andra AP fonden nearly doubled its Markel Group stake in the second quarter, acquiring 1,320 additional shares for a total of 2,659 shares valued at approximately $5.19 million.
• Several major institutional investors also increased or initiated positions, with BlackRock purchasing about $1.36 billion in shares. Institutional investors and hedge funds collectively own 77.12% of Markel’s stock.
• Markel shares opened at $1,743, near the lower end of their 52-week range, while analyst sentiment remained cautious: five analysts rated the stock Hold and one Sell, producing a consensus “Reduce” rating and a $2,025 target price.

Andra AP fonden boosted its holdings in Markel Group Inc. (NYSE:MKL - Free Report) by 98.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,659 shares of the insurance provider's stock after acquiring an additional 1,320 shares during the quarter. Andra AP fonden's holdings in Markel Group were worth $5,193,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Markel Group in the second quarter valued at about $1,362,880,000. Van Lanschot Kempen Investment Management N.V. grew its holdings in Markel Group by 13.0% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 204,861 shares of the insurance provider's stock worth $440,379,000 after acquiring an additional 23,631 shares during the last quarter. Norges Bank acquired a new stake in Markel Group in the 4th quarter valued at about $317,583,000. Dimensional Fund Advisors LP increased its position in Markel Group by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,985 shares of the insurance provider's stock valued at $262,172,000 after acquiring an additional 6,428 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Markel Group in the second quarter worth about $231,608,000. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Stock Performance

Shares of MKL stock opened at $1,743.00 on Thursday. The stock has a market cap of $21.60 billion, a PE ratio of 9.58 and a beta of 0.65. The stock has a 50-day moving average of $1,851.16 and a 200-day moving average of $1,877.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.63 and a quick ratio of 0.63. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Markel Group in a report on Wednesday, July 1st. They issued an "underperform" rating for the company. Weiss Ratings downgraded Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 17th. Finally, Wall Street Zen upgraded Markel Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Markel Group has an average rating of "Reduce" and a consensus target price of $2,025.00.

Markel Group Company Profile

Markel Group Inc is a diversified financial holding company headquartered in Glen Allen, Virginia. Its principal business is specialty insurance, including commercial and personal lines, excess and surplus lines, professional liability, marine, workers' compensation, and other niche coverage. The company also provides reinsurance and insurance-related services through subsidiaries and underwriting platforms.

Markel serves customers and business partners in the United States and international markets, including the United Kingdom, Europe, Canada, Asia-Pacific and other regions.

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