Allspring Global Investments Holdings LLC Decreases Stake in Markel Group Inc. (NYSE:MKL)

Allspring Global Investments Holdings LLC trimmed its stake in Markel Group Inc. (NYSE:MKL - Free Report) by 63.5% in the first quarter, according to its most recent Form 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gold Investment Management Ltd. boosted its position in Markel Group by 3.9% during the first quarter. Gold Investment Management Ltd. now owns 1,290 shares of the insurance provider's stock valued at $2,412,000 after acquiring an additional 49 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in Markel Group by 5,650.0% during the first quarter. Carolina Wealth Advisors LLC now owns 230 shares of the insurance provider's stock valued at $430,000 after acquiring an additional 226 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Markel Group during the first quarter valued at $115,000. Quilter Plc boosted its position in Markel Group by 1.9% during the first quarter. Quilter Plc now owns 33,754 shares of the insurance provider's stock valued at $63,107,000 after acquiring an additional 615 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Markel Group by 5.5% during the first quarter. Illinois Municipal Retirement Fund now owns 9,294 shares of the insurance provider's stock valued at $17,376,000 after acquiring an additional 484 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Markel Group Stock Up 0.4%

Shares of MKL stock traded up $8.29 on Wednesday, reaching $2,005.66. 2,387 shares of the company were exchanged, compared to its average volume of 51,386. Markel Group Inc. has a one year low of $1,491.03 and a one year high of $2,063.68. The company has a market cap of $25.45 billion, a price-to-earnings ratio of 14.78 and a beta of 0.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50-day moving average of $1,924.43 and a 200-day moving average of $1,852.58.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Greta J. Harris sold 90 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $1,861.44, for a total value 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 trade represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.