Bank of America Corp DE Lowers Stock Position in Markel Group Inc. $MKL

Key Points

• Bank of America reduced its Markel Group stake by 7.6% in the first quarter, selling 11,196 shares and retaining 136,084 shares valued at approximately $260.5 million. Institutional investors collectively own 77.12% of Markel.
• Analyst sentiment remains cautious: Markel has an average “Reduce” rating and an average price target of $2,025, with five Hold ratings and one Sell rating among the analysts cited.
• Markel shares opened at $1,876.99, down 0.3%, and remain below their 52-week high of $2,207.59. Recent insider activity was mixed, with one director selling shares and another purchasing 100 shares.

Bank of America Corp DE cut its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,084 shares of the insurance provider's stock after selling 11,196 shares during the period. Bank of America Corp DE owned 1.09% of Markel Group worth $260,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Markel Group by 13.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 97,923 shares of the insurance provider's stock valued at $211,172,000 after acquiring an additional 11,439 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Markel Group by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,484 shares of the insurance provider's stock worth $26,595,000 after buying an additional 732 shares during the last quarter. Ervin Investment Management LLC boosted its stake in shares of Markel Group by 259.2% in the fourth quarter. Ervin Investment Management LLC now owns 9,110 shares of the insurance provider's stock worth $19,583,000 after acquiring an additional 6,574 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Markel Group by 77.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,552 shares of the insurance provider's stock worth $3,336,000 after buying an additional 679 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Markel Group by 3,235.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,316 shares of the insurance provider's stock valued at $54,421,000 after acquiring an additional 24,557 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Wall Street Analysts Forecast Growth

MKL has been the subject of several recent analyst reports. Weiss Ratings cut shares of Markel Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Wolfe Research began coverage on shares of Markel Group in a research note on Wednesday, July 1st. They set an "underperform" rating on the stock. Wall Street Zen upgraded Markel Group from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Truist Financial lowered their price target on shares of Markel Group from $2,100.00 to $1,950.00 and set a "hold" rating for the company in a report on Thursday, April 30th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $2,025.00.

Insider Buying and Selling

In other news, Director Greta J. Harris sold 76 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the completion of the sale, the director owned 645 shares in the company, valued at $1,191,514.95. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Leopold acquired 100 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $1,792.61 per share, for a total transaction of $179,261.00. Following the completion of the transaction, the director owned 2,190 shares in the company, valued at $3,925,815.90. The trade was a 4.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.08% of the company's stock.

Markel Group Trading Down 0.3%

Shares of Markel Group stock opened at $1,876.99 on Tuesday. The company has a market capitalization of $23.26 billion, a P/E ratio of 10.32 and a beta of 0.66. Markel Group Inc. has a 1 year low of $1,719.41 and a 1 year high of $2,207.59. The company's fifty day moving average is $1,902.48 and its two-hundred day moving average is $1,941.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.63.

Markel Group Profile

Markel Group NYSE: MKL is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.

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