Shelter Mutual Insurance Co Takes $2.34 Million Position in Markel Group Inc. $MKL

Key Points

• Shelter Mutual Insurance Co. purchased 1,200 Markel Group shares during the second quarter, valued at approximately $2.34 million.
• Institutional ownership remains significant at 77.12%, with BlackRock, Select Equity Group, Davis Selected Advisers and others holding or expanding sizable positions.
• Markel shares opened at $1,791.88, below the consensus analyst target of $2,025. Despite mixed ratings, the stock carries an overall “Hold” consensus.

Shelter Mutual Insurance Co bought a new position in Markel Group Inc. (NYSE:MKL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,200 shares of the insurance provider's stock, valued at approximately $2,344,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Markel Group in the 2nd quarter worth $1,362,880,000. Davis Selected Advisers boosted its holdings in shares of Markel Group by 11.1% during the fourth quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider's stock worth $892,496,000 after purchasing an additional 41,632 shares during the period. Select Equity Group L.P. increased its holdings in Markel Group by 75.9% during the 2nd quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider's stock valued at $671,850,000 after purchasing an additional 145,146 shares during the period. State Street Corp raised its holdings in Markel Group by 2.1% in the 3rd quarter. State Street Corp now owns 304,400 shares of the insurance provider's stock worth $581,818,000 after purchasing an additional 6,160 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its position in shares of Markel Group by 13.0% in 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 purchasing an additional 23,631 shares during the period. 77.12% of the stock is currently owned by institutional investors.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,791.88 on Friday. The firm has a market cap of $22.20 billion, a P/E ratio of 9.85 and a beta of 0.66. Markel Group Inc. has a twelve month low of $1,719.41 and a twelve month high of $2,207.59. 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 company has a 50 day moving average of $1,907.86 and a 200 day moving average of $1,921.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MKL. Truist Financial cut their price objective on Markel Group from $2,100.00 to $1,950.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. Wolfe Research initiated coverage on Markel Group in a research note on Wednesday, July 1st. They issued an "underperform" rating on the stock. Weiss Ratings raised Markel Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Markel Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Markel Group presently has a consensus rating of "Hold" and a consensus target price of $2,025.00.

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.

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