Allspring Global Investments Holdings LLC Sells 1,663 Shares of Markel Group Inc. (NYSE:MKL)

Allspring Global Investments Holdings LLC lowered its stake in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 63.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Markel Group during the 4th quarter worth about $254,795,000. GAMMA Investing LLC increased its holdings in shares of Markel Group by 210,656.4% during the 1st quarter. GAMMA Investing LLC now owns 115,916 shares of the insurance provider's stock worth $216,718,000 after purchasing an additional 115,861 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Markel Group during the 4th quarter worth about $169,852,000. Boston Partners increased its holdings in shares of Markel Group by 17.6% during the 4th quarter. Boston Partners now owns 281,820 shares of the insurance provider's stock worth $486,580,000 after purchasing an additional 42,178 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Markel Group by 19.3% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 121,589 shares of the insurance provider's stock worth $209,891,000 after purchasing an additional 19,657 shares during the period. Institutional investors and hedge funds own 77.12% of the company's stock.

Insiders Place Their Bets

In other 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 directly owned 632 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.66% of the company's stock.

Markel Group Price Performance

NYSE MKL traded down $1.88 on Thursday, reaching $1,995.97. The company's stock had a trading volume of 10,936 shares, compared to its average volume of 51,473. The firm has a market cap of $25.33 billion, a PE ratio of 14.71 and a beta of 0.84. The business has a 50-day moving average price of $1,928.03 and a 200 day moving average price of $1,853.61. Markel Group Inc. has a 52 week low of $1,491.03 and a 52 week high of $2,063.68. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently 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.