Westpac Banking Corp Has $30,000 Holdings in Markel Group Inc. (NYSE:MKL)

Westpac Banking Corp cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 97.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22 shares of the insurance provider’s stock after selling 1,035 shares during the period. Westpac Banking Corp’s holdings in Markel Group were worth $30,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in Markel Group in the first quarter valued at $148,000. American Century Companies Inc. increased its holdings in Markel Group by 11.9% in the first quarter. American Century Companies Inc. now owns 628 shares of the insurance provider’s stock valued at $926,000 after purchasing an additional 67 shares during the period. MetLife Investment Management LLC acquired a new stake in Markel Group in the first quarter valued at $549,000. Rhumbline Advisers increased its holdings in Markel Group by 2.7% in the first quarter. Rhumbline Advisers now owns 11,913 shares of the insurance provider’s stock valued at $17,575,000 after purchasing an additional 308 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in Markel Group by 4.7% in the first quarter. Yousif Capital Management LLC now owns 332 shares of the insurance provider’s stock valued at $490,000 after purchasing an additional 15 shares during the period. 76.96% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Price Performance

MKL stock opened at $1,410.50 on Tuesday. Markel Group Inc. has a 1 year low of $1,186.56 and a 1 year high of $1,560.00. The stock has a market capitalization of $18.65 billion, a PE ratio of 10.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The company’s 50-day moving average is $1,453.41 and its 200-day moving average is $1,420.57.

Analysts Set New Price Targets

MKL has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Truist Financial cut their price target on shares of Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. StockNews.com cut shares of Markel Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Markel Group in a research report on Thursday, September 7th. They set a “buy” rating and a $1,750.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Markel Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,531.25.

Insider Activity at Markel Group

In other Markel Group news, Director Lawrence A. Cunningham purchased 25 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $1,460.00 per share, with a total value of $36,500.00. Following the transaction, the director now owns 463 shares in the company, valued at $675,980. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas Sinnickson Gayner acquired 100 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $1,311.92 per share, for a total transaction of $131,192.00. Following the purchase, the chief executive officer now owns 44,985 shares in the company, valued at approximately $59,016,721.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lawrence A. Cunningham acquired 25 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $1,460.00 per share, with a total value of $36,500.00. Following the purchase, the director now owns 463 shares in the company, valued at approximately $675,980. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 222 shares of company stock valued at $295,861 and have sold 1,048 shares valued at $1,544,641. 1.75% of the stock is owned by insiders.

Markel Group Company Profile

Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.