Markel Group Inc. (NYSE:MKL) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,997 shares of the insurance provider's stock after purchasing an additional 915 shares during the quarter. Bank of America Corp DE owned approximately 1.10% of Markel Group worth $243,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MKL. Norges Bank acquired a new stake in shares of Markel Group during the 4th quarter worth about $254,795,000. Proficio Capital Partners LLC purchased a new position in shares of Markel Group in the 4th quarter worth $169,852,000. Davis Selected Advisers grew its holdings in shares of Markel Group by 27.9% during the 4th quarter. Davis Selected Advisers now owns 370,522 shares of the insurance provider's stock worth $639,606,000 after purchasing an additional 80,922 shares during the period. Raymond James Financial Inc. purchased a new stake in Markel Group during the fourth quarter worth approximately $98,743,000. Finally, Boston Partners increased its holdings 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 purchasing an additional 42,178 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company's stock.

Insider Activity at Markel Group

In related news, Director Steven A. Markel sold 88 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,860.03, for a total transaction of $163,682.64. Following the sale, the director now owns 63,436 shares of the company's stock, valued at $117,992,863.08. The trade was a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,034 shares of company stock worth $3,778,952 in the last three months. 1.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective 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 Markel Group from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $1,727.75.

Markel Group Stock Performance

Shares of MKL traded up $22.79 during midday trading on Friday, hitting $1,903.48. 51,436 shares of the stock traded hands, compared to its average volume of 49,307. The firm has a market capitalization of $24.15 billion, a PE ratio of 9.56 and a beta of 0.84. The business's 50 day moving average price is $1,821.38 and its two-hundred day moving average price is $1,779.69. Markel Group Inc. has a 1-year low of $1,491.03 and a 1-year high of $2,063.68. 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 (NYSE:MKL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $20.51 earnings per share for the quarter, missing analysts' consensus estimates of $20.66 by ($0.15). Markel Group had a net margin of 16.34% and a return on equity of 7.55%. Equities research analysts predict that Markel Group Inc. will post 96.25 EPS for the current fiscal year.

About Markel Group

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.