Markel Group (NYSE:MKL) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Markel Group shares crossed above their 200-day moving average of $1,898.59, reaching $1,908.48 before last trading near $1,904.93.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, resulting in a consensus “Reduce” rating and a $2,025 price target.
• Institutional ownership stands at 77.12%, with several hedge funds and investment firms increasing their positions during the third quarter.

Markel Group Inc. (NYSE:MKL - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $1,898.59 and traded as high as $1,908.48. Markel Group shares last traded at $1,904.9280, with a volume of 65,694 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Markel Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Markel Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 28th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Markel Group currently has an average rating of "Reduce" and a consensus price target of $2,025.00.

Markel Group Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a 50 day simple moving average of $1,800.65 and a two-hundred day simple moving average of $1,898.59. The company has a market cap of $23.60 billion, a PE ratio of 13.53 and a beta of 0.64.

Hedge Funds Weigh In On Markel Group

Institutional investors have recently modified their holdings of the business. CenterBook Partners LP lifted its stake in shares of Markel Group by 220.9% during the third quarter. CenterBook Partners LP now owns 1,566 shares of the insurance provider's stock valued at $2,682,000 after buying an additional 1,078 shares during the period. Kestra Advisory Services LLC grew its stake in Markel Group by 22.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 816 shares of the insurance provider's stock worth $1,397,000 after acquiring an additional 149 shares during the period. Strategent Financial LLC grew its position in shares of Markel Group by 1.3% in the third quarter. Strategent Financial LLC now owns 853 shares of the insurance provider's stock valued at $1,461,000 after purchasing an additional 11 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Markel Group by 152.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 574 shares of the insurance provider's stock valued at $1,073,000 after acquiring an additional 347 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. increased its position in Markel Group by 2.9% during the third quarter. Mraz Amerine & Associates Inc. now owns 20,184 shares of the insurance provider's stock worth $34,564,000 after purchasing an additional 574 shares during the last quarter. 77.12% of the stock is owned by institutional investors and hedge funds.

Markel Group Company Profile

Markel Group Inc NYSE: MKL is a diversified holding company focused on specialty insurance, reinsurance, investments and industrial businesses. Through its insurance operations, the company provides coverage for risks that may be complex, specialized or underserved by standard insurance markets.

Markel's insurance offerings include property and casualty coverage, professional liability, marine and energy insurance, workers' compensation, and other specialty products. Its reinsurance business assumes portions of risk from other insurers.

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