Bank of New York Mellon Corp Sells 648 Shares of Markel Group Inc. (NYSE:MKL)

Bank of New York Mellon Corp cut its stake in shares of Markel Group Inc. (NYSE:MKL) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,260 shares of the insurance provider’s stock after selling 648 shares during the quarter. Bank of New York Mellon Corp’s holdings in Markel Group were worth $88,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners increased its holdings in shares of Markel Group by 17.6% during the fourth quarter. Boston Partners now owns 281,820 shares of the insurance provider’s stock valued at $486,580,000 after acquiring an additional 42,178 shares in the last quarter. Norges Bank bought a new position in shares of Markel Group during the fourth quarter valued at $254,795,000. Bank of America Corp DE increased its holdings in shares of Markel Group by 0.7% during the fourth quarter. Bank of America Corp DE now owns 140,997 shares of the insurance provider’s stock valued at $243,393,000 after acquiring an additional 915 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Markel Group by 19.3% during the fourth 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 acquiring an additional 19,657 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Markel Group by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 116,664 shares of the insurance provider’s stock valued at $201,393,000 after acquiring an additional 1,975 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 90 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $1,861.44, for a total value of $167,529.60. Following the completion of the transaction, the director owned 632 shares of the company’s stock, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.66% of the company’s stock.

Markel Group Price Performance

Shares of NYSE:MKL opened at $1,993.99 on Friday. Markel Group Inc. has a fifty-two week low of $1,491.03 and a fifty-two week high of $2,063.68. The business has a 50-day simple moving average of $1,931.73 and a two-hundred day simple moving average of $1,854.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 14.70 and a beta of 0.84.

Wall Street Analysts Forecast Growth

Separately, Argus raised Markel Group from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,727.75.

Markel Group 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.