Clear Harbor Asset Management LLC Takes Position in Markel Group Inc. $MKL

Key Points

• Clear Harbor Asset Management initiated a position in Markel Group during the second quarter, purchasing 4,345 shares valued at approximately $8.49 million.
• Institutional investors and hedge funds own 77.12% of Markel’s outstanding shares, with several firms increasing or initiating positions recently.
• Analyst sentiment remains cautious: Markel has an average rating of “Hold” and an average price target of $2,025, while shares recently traded near $1,791.88.

Clear Harbor Asset Management LLC bought a new position in shares of Markel Group Inc. (NYSE:MKL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,345 shares of the insurance provider's stock, valued at approximately $8,486,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Markel Group in the fourth quarter worth $236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Markel Group by 13.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109 shares of the insurance provider's stock valued at $204,000 after buying an additional 13 shares during the period. Goldman Sachs Group Inc. grew its position in Markel Group by 9.7% during the first quarter. Goldman Sachs Group Inc. now owns 34,704 shares of the insurance provider's stock worth $64,883,000 after buying an additional 3,083 shares in the last quarter. Empowered Funds LLC grew its position in Markel Group by 49.1% during the first quarter. Empowered Funds LLC now owns 416 shares of the insurance provider's stock worth $778,000 after buying an additional 137 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Markel Group in the 2nd quarter worth about $463,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MKL shares. Wall Street Zen raised shares of Markel Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Markel Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Truist Financial decreased their price target 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. Finally, Wolfe Research initiated coverage on shares of Markel Group in a research report on Wednesday, July 1st. They set an "underperform" rating on the stock. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Markel Group has an average rating of "Hold" and an average target price of $2,025.00.

Markel Group Trading Up 0.2%

Shares of MKL stock opened at $1,791.88 on Friday. The stock has a market capitalization of $22.20 billion, a PE ratio of 9.85 and a beta of 0.66. Markel Group Inc. has a 1-year low of $1,719.41 and a 1-year high of $2,207.59. The business has a 50-day moving average of $1,907.86 and a 200 day moving average of $1,921.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.63 and a quick ratio of 0.63.

About Markel Group

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.

Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL - Free Report).

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