Banyan Capital Management Inc. Acquires 11,406 Shares of Markel Group Inc. $MKL

Key Points

• Banyan Capital Management opened a new position in Markel Group during the third quarter, buying 11,406 shares worth about $19.5 million. Markel represents 8.6% of its portfolio and is its second-largest holding.
• Institutional investors and hedge funds own 77.12% of Markel shares; several major firms also disclosed new or increased positions.
• Analyst sentiment is cautious: five analysts rate the stock Hold and one Sell, resulting in a consensus “Reduce” rating and a $2,025 price target.

Banyan Capital Management Inc. bought a new stake in Markel Group Inc. (NYSE:MKL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,406 shares of the insurance provider's stock, valued at approximately $19,533,000. Markel Group accounts for approximately 8.6% of Banyan Capital Management Inc.'s portfolio, making the stock its 2nd biggest holding. Banyan Capital Management Inc. owned 0.09% of Markel Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Markel Group in the second quarter valued at about $1,362,880,000. Dimensional Fund Advisors LP grew its position in Markel Group by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 136,985 shares of the insurance provider's stock worth $262,172,000 after buying an additional 6,428 shares during the period. Bank of America Corp DE acquired a new position in Markel Group during the second quarter worth about $231,608,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Markel Group by 2.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 94,927 shares of the insurance provider's stock worth $163,122,000 after buying an additional 2,326 shares during the period. Finally, Davis Asset Management L.P. acquired a new position in Markel Group during the second quarter worth about $179,882,000. Institutional investors and hedge funds own 77.12% of the company's stock.

Markel Group Price Performance

MKL stock opened at $1,975.18 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $24.16 billion, a P/E ratio of 17.85 and a beta of 0.60. Markel Group Inc. has a 1 year low of $1,704.17 and a 1 year high of $2,207.59. The stock's 50 day moving average price is $1,820.01 and its 200 day moving average price is $1,894.66.

Analysts Set New Price Targets

MKL has been the subject of a number of research analyst reports. DOWLING & PARTN assumed coverage on shares of Markel Group in a report on Wednesday, November 4th. They issued a "hold" rating for the company. Weiss Ratings lowered Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 28th. Finally, Wall Street Zen upgraded Markel Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $2,025.00.

Markel Group Profile

Markel Group Inc. is a diversified financial holding company best known for its specialty insurance and reinsurance operations. Through its insurance businesses, the company provides coverage for commercial and individual risks that may require specialized underwriting, serving customers in the United States and international markets. Founded in 1930 by Sam Markel, the company has expanded beyond insurance. Its Markel Ventures division owns and operates businesses across a range of industries, while its investment activities support the group's broader operations.

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