Nuveen Asset Management LLC Decreases Holdings in Markel Group Inc. (NYSE:MKL)

Nuveen Asset Management LLC trimmed its holdings in shares of Markel Group Inc. (NYSE:MKL) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,964 shares of the insurance provider’s stock after selling 1,553 shares during the period. Nuveen Asset Management LLC owned 0.19% of Markel Group worth $41,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Davis Selected Advisers boosted its position in Markel Group by 27.9% in the 4th quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider’s stock valued at $639,606,000 after buying an additional 80,922 shares during the last quarter. Boston Partners boosted its position in Markel Group by 17.6% in the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider’s stock valued at $486,580,000 after buying an additional 42,178 shares during the last quarter. Norges Bank purchased a new position in Markel Group in the 4th quarter valued at about $254,795,000. Bank of America Corp DE boosted its position in Markel Group by 0.7% in the 4th quarter. Bank of America Corp DE now owns 140,997 shares of the insurance provider’s stock valued at $243,393,000 after buying an additional 915 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in Markel Group by 19.3% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 121,589 shares of the insurance provider’s stock valued at $209,891,000 after buying an additional 19,657 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MKL shares. Royal Bank of Canada upped their target price on shares of Markel Group from $1,750.00 to $2,025.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1,727.75.

Insider Buying and Selling

In related news, Director Steven A. Markel sold 1,146 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,858.49, for a total transaction of $2,129,829.54. Following the sale, the director now owns 63,722 shares in the company, valued at $118,426,699.78. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 2,034 shares of company stock worth $3,778,952 over the last quarter. 1.66% of the stock is owned by company insiders.

Markel Group Stock Performance

Shares of Markel Group stock opened at $1,900.06 on Wednesday. The firm has a market cap of $24.10 billion, a PE ratio of 9.55 and a beta of 0.84. The firm’s 50-day simple moving average is $1,827.94 and its 200-day simple moving average is $1,796.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. Markel Group Inc. has a 1 year low of $1,491.03 and a 1 year high of $2,063.68.

Markel Group Company Profile

Markel Group Inc, a diverse holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, and Germany. 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.