Mediolanum International Funds Ltd Sells 1,544 Shares of Markel Group Inc. (NYSE:MKL)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Markel Group Inc. by 23.9% in the first quarter, holding a total of 4,908 shares valued at approximately $9.11 million.
• Various institutional investors have increased their positions in Markel Group, with Norges Bank acquiring a new stake worth about $254.8 million and GAMMA Investing LLC boosting its stake by an astonishing 210,656.4%.
• Markel Group's stock rating was upgraded from "hold" to "buy" by Argus, although it currently retains a consensus rating of "hold" with a target price of $1,820.33.

Mediolanum International Funds Ltd reduced its holdings in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 23.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,908 shares of the insurance provider's stock after selling 1,544 shares during the period. Mediolanum International Funds Ltd's holdings in Markel Group were worth $9,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MKL. Norges Bank purchased a new stake in Markel Group during the fourth quarter valued at approximately $254,795,000. GAMMA Investing LLC increased its stake in shares of Markel Group by 210,656.4% in the first 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 in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its stake 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 worth $209,891,000 after purchasing an additional 19,657 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Markel Group by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,044 shares of the insurance provider's stock worth $174,425,000 after purchasing an additional 15,916 shares in the last quarter. Finally, Rockbridge Capital Management LLC purchased a new stake in shares of Markel Group in the fourth quarter worth $24,834,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Markel Group

In related news, Director Greta J. Harris sold 90 shares of Markel Group stock in a transaction dated 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 completion of the transaction, the director directly owned 632 shares of the company's stock, valued at approximately $1,176,430.08. The trade was a 12.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.66% of the company's stock.

Markel Group Price Performance

Shares of NYSE:MKL traded down $2.51 on Wednesday, reaching $2,015.99. The company's stock had a trading volume of 7,956 shares, compared to its average volume of 57,693. 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 market cap of $25.57 billion, a P/E ratio of 14.86 and a beta of 0.84. The company has a 50-day simple moving average of $1,964.82 and a 200 day simple moving average of $1,883.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62.

Analyst Upgrades and Downgrades

Separately, Argus raised shares of Markel Group from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Markel Group presently has a consensus rating of "Hold" and an average target price of $1,820.33.

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.