Scharf Investments LLC Sells 6,396 Shares of Markel Group Inc. (NYSE:MKL)

Scharf Investments LLC lowered its position in shares of Markel Group Inc. (NYSE:MKL - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,869 shares of the insurance provider's stock after selling 6,396 shares during the quarter. Markel Group accounts for 5.1% of Scharf Investments LLC's investment portfolio, making the stock its 6th largest holding. Scharf Investments LLC owned 0.70% of Markel Group worth $166,150,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its position in Markel Group by 9.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 1,018 shares of the insurance provider's stock worth $1,903,000 after buying an additional 91 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Markel Group in the 1st quarter valued at about $688,000. Kentucky Retirement Systems purchased a new position in shares of Markel Group in the 1st quarter valued at about $1,617,000. Guyasuta Investment Advisors Inc. purchased a new position in shares of Markel Group in the 1st quarter valued at about $215,000. Finally, Praxis Investment Management Inc. increased its holdings in shares of Markel Group by 36.1% in the 1st quarter. Praxis Investment Management Inc. now owns 980 shares of the insurance provider's stock valued at $1,832,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus upgraded shares of Markel Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Markel Group currently has an average rating of "Hold" and an average target price of $1,727.75.

Insider Activity at Markel Group

In related news, Director Greta J. Harris sold 90 shares of the 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 sale, the director now directly owns 632 shares of the company's stock, valued at approximately $1,176,430.08. This represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is owned by corporate insiders.

Markel Group Price Performance

Shares of MKL traded up $5.30 during trading hours on Tuesday, reaching $1,990.04. The company had a trading volume of 37,934 shares, compared to its average volume of 51,588. The firm has a 50 day simple moving average of $1,883.44 and a 200-day simple moving average of $1,834.56. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 14.67 and a beta of 0.85. Markel Group Inc. has a 12-month low of $1,491.03 and a 12-month high of $2,063.68.

About Markel Group

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.