Bank of New York Mellon Corp Sells 2,572 Shares of Markel Group Inc. $MKL

Bank of New York Mellon Corp trimmed its holdings in Markel Group Inc. (NYSE:MKL) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,490 shares of the insurance provider’s stock after selling 2,572 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Markel Group worth $69,845,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MKL. Diversify Advisory Services LLC lifted its holdings in shares of Markel Group by 4.5% in the fourth quarter. Diversify Advisory Services LLC now owns 116 shares of the insurance provider’s stock worth $239,000 after buying an additional 5 shares in the last quarter. Keybank National Association OH boosted its position in shares of Markel Group by 0.7% during the fourth quarter. Keybank National Association OH now owns 765 shares of the insurance provider’s stock worth $1,644,000 after acquiring an additional 5 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in Markel Group by 3.2% during the fourth quarter. Wellington Shields & Co. LLC now owns 160 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 5 shares in the last quarter. Root Financial Partners LLC increased its holdings in Markel Group by 13.9% in the 4th quarter. Root Financial Partners LLC now owns 41 shares of the insurance provider’s stock valued at $88,000 after acquiring an additional 5 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in Markel Group by 4.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 118 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 5 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Markel Group from a “buy” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings lowered Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Wolfe Research started coverage on Markel Group in a research report on Wednesday, July 1st. They issued an “underperform” rating for the company. Finally, Truist Financial dropped their price objective on shares of Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Markel Group presently has a consensus rating of “Reduce” and a consensus price target of $2,025.00.

Markel Group Stock Down 0.9%

Shares of MKL opened at $1,944.69 on Thursday. The firm has a fifty day moving average price of $1,886.00 and a 200-day moving average price of $1,951.08. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $24.33 billion, a P/E ratio of 14.01 and a beta of 0.66. Markel Group Inc. has a 12-month low of $1,719.41 and a 12-month high of $2,207.59.

Markel Group (NYSE:MKL) last posted its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) EPS for the quarter, missing the consensus estimate of $26.38 by ($45.28). The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Markel Group had a return on equity of 7.90% and a net margin of 10.85%. Equities research analysts expect that Markel Group Inc. will post 114.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Greta J. Harris sold 76 shares of the 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 value of $140,395.56. Following the transaction, the director owned 645 shares of the company’s stock, valued at $1,191,514.95. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane Leopold acquired 100 shares of Markel Group stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $1,792.61 per share, for a total transaction of $179,261.00. Following the completion of the acquisition, the director directly owned 2,190 shares in the company, valued at $3,925,815.90. This trade represents a 4.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.08% of the company’s stock.

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.