Baxter Bros Inc. Invests $5.14 Million in Markel Group Inc. $MKL

Key Points

• Baxter Bros Inc. purchased a new Markel Group stake worth approximately $5.14 million, acquiring 2,633 shares during the second quarter. Institutional investors collectively own 77.12% of MKL.
• Markel shares opened at $1,843.94, below their 50-day and 200-day moving averages, with a 12-month range of $1,719.41 to $2,207.59. The company has a $22.85 billion market capitalization and a P/E ratio of 10.14.
• Analyst sentiment remains cautious: five analysts rate MKL a Hold and one rates it Sell, producing a “Reduce” consensus rating and an average price target of $2,025. An insider also sold 76 shares for about $140,396.

Baxter Bros Inc. purchased a new stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,633 shares of the insurance provider's stock, valued at approximately $5,142,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keybank National Association OH lifted its position in shares of Markel Group by 0.7% during the fourth quarter. Keybank National Association OH now owns 765 shares of the insurance provider's stock worth $1,644,000 after acquiring an additional 5 shares in the last quarter. Wellington Shields & Co. LLC grew its position in shares of Markel Group by 3.2% in the fourth quarter. Wellington Shields & Co. LLC now owns 160 shares of the insurance provider's stock valued at $344,000 after purchasing an additional 5 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Markel Group by 13.9% during the 4th quarter. Root Financial Partners LLC now owns 41 shares of the insurance provider's stock valued at $88,000 after purchasing an additional 5 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Markel Group by 4.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 118 shares of the insurance provider's stock valued at $254,000 after purchasing an additional 5 shares during the period. Finally, Lido Advisors LLC lifted its holdings in Markel Group by 1.1% during the 4th quarter. Lido Advisors LLC now owns 460 shares of the insurance provider's stock worth $912,000 after purchasing an additional 5 shares in the last quarter. 77.12% of the stock is owned by institutional investors.

Markel Group Stock Performance

NYSE:MKL opened at $1,843.94 on Monday. The stock has a market cap of $22.85 billion, a P/E ratio of 10.14 and a beta of 0.66. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.23. The business's 50-day moving average price is $1,910.02 and its two-hundred day moving average price is $1,928.74. Markel Group Inc. has a twelve month low of $1,719.41 and a twelve month high of $2,207.59.

Wall Street Analyst Weigh In

MKL has been the subject of several analyst reports. Wolfe Research initiated coverage on Markel Group in a research note on Wednesday, July 1st. They issued an "underperform" rating for the company. Weiss Ratings raised shares of Markel Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Markel Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Truist Financial decreased their target price on shares of Markel Group from $2,100.00 to $1,950.00 and set a "hold" rating on the stock in a report on Thursday, April 30th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $2,025.00.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 76 shares of Markel Group stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the completion of the sale, the director directly owned 645 shares in the company, valued at $1,191,514.95. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by corporate insiders.

Markel Group Profile

Markel Group NYSE: MKL is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source