Handelsbanken Fonder AB Trims Stock Position in Markel Group Inc. (NYSE:MKL)

Handelsbanken Fonder AB trimmed its position in Markel Group Inc. (NYSE:MKL - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,368 shares of the insurance provider's stock after selling 502 shares during the period. Handelsbanken Fonder AB's holdings in Markel Group were worth $4,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MKL. Norges Bank acquired a new stake in Markel Group during the 4th quarter worth about $254,795,000. GAMMA Investing LLC grew its position in 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 acquired a new stake in Markel Group during the 4th quarter worth about $169,852,000. Davis Selected Advisers grew its position in 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. Finally, Raymond James Financial Inc. acquired a new stake in Markel Group during the 4th quarter worth about $98,743,000. 77.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Argus raised 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 assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $1,727.75.

Markel Group Price Performance

Shares of NYSE:MKL traded down $13.49 during trading on Tuesday, reaching $1,942.02. 37,992 shares of the company's stock traded hands, compared to its average volume of 51,623. Markel Group Inc. has a fifty-two week low of $1,491.03 and a fifty-two week high of $2,063.68. 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 cap of $24.64 billion, a PE ratio of 14.31 and a beta of 0.85. The company has a 50-day simple moving average of $1,865.62 and a 200-day simple moving average of $1,827.46.

Insiders Place Their Bets

In other Markel Group news, Director Greta J. Harris sold 90 shares of the firm'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 value of $167,529.60. Following the transaction, the director now directly owns 632 shares of the company's stock, valued at $1,176,430.08. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.66% of the company's stock.

Markel Group Company 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.