Wells Fargo & Company MN Sells 17,216 Shares of Markel Group Inc. (NYSE:MKL)

Wells Fargo & Company MN decreased its holdings in Markel Group Inc. (NYSE:MKL) by 18.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,445 shares of the insurance provider’s stock after selling 17,216 shares during the quarter. Wells Fargo & Company MN owned 0.58% of Markel Group worth $108,545,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MKL. Morgan Stanley raised its holdings in shares of Markel Group by 3.2% in the 3rd quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock worth $793,979,000 after purchasing an additional 16,597 shares during the period. Boston Partners grew its stake in Markel Group by 400.1% in the 4th quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock valued at $222,771,000 after buying an additional 125,507 shares in the last quarter. Norges Bank purchased a new position in Markel Group in the 4th quarter valued at approximately $214,216,000. Mackenzie Financial Corp grew its stake in Markel Group by 2.8% in the 4th quarter. Mackenzie Financial Corp now owns 129,541 shares of the insurance provider’s stock valued at $183,935,000 after buying an additional 3,476 shares in the last quarter. Finally, Scharf Investments LLC grew its stake in Markel Group by 4.0% in the 4th quarter. Scharf Investments LLC now owns 126,920 shares of the insurance provider’s stock valued at $180,214,000 after buying an additional 4,933 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Wall Street Analysts Forecast Growth

MKL has been the subject of a number of recent research reports. Janney Montgomery Scott reiterated a “neutral” rating and issued a $1,600.00 price objective on shares of Markel Group in a research note on Friday, March 15th. Jefferies Financial Group lowered shares of Markel Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $1,680.00 to $1,500.00 in a research report on Monday, February 5th. Truist Financial boosted their price target on shares of Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, Markel Group presently has a consensus rating of “Hold” and an average price target of $1,520.00.

Markel Group Stock Performance

NYSE MKL opened at $1,615.43 on Friday. Markel Group Inc. has a 52-week low of $1,295.65 and a 52-week high of $1,670.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $21.00 billion, a P/E ratio of 8.73 and a beta of 0.69. The company has a fifty day moving average of $1,528.95 and a 200-day moving average of $1,463.79.

Markel Group (NYSE:MKL) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $18.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.62 billion. Markel Group had a return on equity of 11.18% and a net margin of 15.23%. As a group, equities research analysts predict that Markel Group Inc. will post 82.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven A. Markel sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.71% of the company’s stock.

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.