Westpac Banking Corp Purchases New Holdings in Markel Group Inc. $MKL

Key Points

• Westpac Banking Corp acquired 1,968 Markel Group shares during the second quarter, valued at approximately $3.84 million.
• Institutional investors and hedge funds own 77.12% of Markel’s outstanding stock, while several smaller investors recently increased their positions.
• Markel shares opened at $1,791.88, below their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating, with an average price target of $2,025.

Westpac Banking Corp acquired a new position in Markel Group Inc. (NYSE:MKL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,968 shares of the insurance provider's stock, valued at approximately $3,844,000.

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

Markel Group Price Performance

Shares of MKL stock opened at $1,791.88 on Friday. The stock's fifty day moving average is $1,907.86 and its 200-day moving average is $1,921.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.63. 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 52 week low of $1,719.41 and a 52 week high of $2,207.59.

Wall Street Analyst Weigh In

MKL has been the topic of several recent research reports. Weiss Ratings upgraded shares of Markel Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Wolfe Research started coverage on shares of Markel Group in a research report on Wednesday, July 1st. They issued an "underperform" rating for the company. Wall Street Zen upgraded 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 price objective on 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. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2,025.00.

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.

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