Allspring Global Investments Holdings LLC Has $3.06 Million Holdings in Markel Group Inc. (NYSE:MKL)

Allspring Global Investments Holdings LLC cut its stake in Markel Group Inc. (NYSE:MKL) by 52.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,011 shares of the insurance provider’s stock after selling 2,208 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Markel Group were worth $3,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Markel Group during the fourth quarter worth about $30,000. Blue Trust Inc. increased its position in shares of Markel Group by 133.3% during the fourth quarter. Blue Trust Inc. now owns 21 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 12 shares during the period. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Markel Group during the fourth quarter valued at approximately $57,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Markel Group by 40.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 80 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 23 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new position in Markel Group in the third quarter worth $125,000. Institutional investors own 77.12% of the company’s stock.

Markel Group Price Performance

NYSE:MKL opened at $1,578.79 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.25. The firm has a market cap of $20.52 billion, a PE ratio of 8.53 and a beta of 0.73. Markel Group Inc. has a 12 month low of $1,295.65 and a 12 month high of $1,670.24. The company’s 50-day moving average price is $1,583.77 and its two-hundred day moving average price is $1,503.15.

Markel Group (NYSE:MKL) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing the consensus estimate of $18.50 by ($0.33). The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.62 billion. Markel Group had a return on equity of 11.18% and a net margin of 15.23%. On average, equities analysts anticipate that Markel Group Inc. will post 82.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 122 shares of Markel Group stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $1,620.83, for a total value of $197,741.26. Following the completion of the transaction, the director now directly owns 634 shares of the company’s stock, valued at $1,027,606.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Greta J. Harris sold 122 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total value of $197,741.26. Following the completion of the sale, the director now owns 634 shares of the company’s stock, valued at $1,027,606.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven A. Markel sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total value of $4,915,170.00. Following the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $109,228,184.52. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of Markel Group from $1,475.00 to $1,625.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Finally, Janney Montgomery Scott reiterated a “neutral” rating and issued a $1,600.00 price objective on shares of Markel Group in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1,520.00.

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.