Markel Group Inc. (NYSE:MKL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 63.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 956 shares of the insurance provider's stock after selling 1,663 shares during the period. Allspring Global Investments Holdings LLC's holdings in Markel Group were worth $1,778,000 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 MKL. Boston Partners lifted its holdings in shares of Markel Group by 17.6% in the fourth 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. Norges Bank acquired a new stake in shares of Markel Group in the fourth quarter valued at approximately $254,795,000. Bank of America Corp DE grew its position in shares of Markel Group by 0.7% in 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 purchasing an additional 915 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its position in shares of Markel Group by 19.3% in 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 purchasing an additional 19,657 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Markel Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 116,664 shares of the insurance provider's stock valued at $201,393,000 after purchasing an additional 1,975 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Markel Group Trading Up 0.1%

Shares of MKL traded up $2.07 on Wednesday, hitting $1,999.44. 46,698 shares of the stock traded hands, compared to its average volume of 51,634. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $25.37 billion, a P/E ratio of 14.74 and a beta of 0.84. The stock's 50 day moving average is $1,928.03 and its two-hundred day moving average is $1,853.61. Markel Group Inc. has a 1 year low of $1,491.03 and a 1 year high of $2,063.68.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Greta J. Harris sold 90 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total transaction of $167,529.60. Following the transaction, the director owned 632 shares of the company's stock, valued at approximately $1,176,430.08. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.66% of the company's stock.

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.