Saudi Central Bank Buys 413 Shares of Markel Group Inc. $MKL

Saudi Central Bank increased its stake in Markel Group Inc. (NYSE:MKL) by 88.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 878 shares of the insurance provider’s stock after purchasing an additional 413 shares during the quarter. Saudi Central Bank’s holdings in Markel Group were worth $1,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Markel Group in the fourth quarter valued at $236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Markel Group by 13.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109 shares of the insurance provider’s stock valued at $204,000 after purchasing an additional 13 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Markel Group by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 34,704 shares of the insurance provider’s stock valued at $64,883,000 after purchasing an additional 3,083 shares during the period. Empowered Funds LLC grew its holdings 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 purchasing an additional 137 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Markel Group during the second quarter worth about $463,000. 77.12% of the stock is owned by institutional investors.

Markel Group Price Performance

Shares of NYSE MKL opened at $1,786.30 on Wednesday. The business has a fifty day moving average price of $1,889.92 and a two-hundred day moving average price of $1,898.75. The stock has a market capitalization of $22.13 billion, a PE ratio of 9.82 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.63 and a quick ratio of 0.63. Markel Group Inc. has a fifty-two week low of $1,719.41 and a fifty-two week high of $2,207.59.

Wall Street Analysts Forecast Growth

MKL has been the subject of a number of recent analyst reports. Wall Street Zen raised Markel Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Markel Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Finally, Wolfe Research initiated coverage on shares of Markel Group in a report on Wednesday, July 1st. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Markel Group currently has an average rating of “Hold” and a consensus price target of $2,025.00.

Markel Group Company 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.