Sprucegrove Investment Management Ltd. Sells 1,963 Shares of Markel Group Inc. (NYSE:MKL)

Sprucegrove Investment Management Ltd. lowered its holdings in Markel Group Inc. (NYSE:MKL) by 13.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,491 shares of the insurance provider’s stock after selling 1,963 shares during the quarter. Markel Group comprises approximately 0.9% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 13th largest holding. Sprucegrove Investment Management Ltd. owned about 0.09% of Markel Group worth $17,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MKL. BI Asset Management Fondsmaeglerselskab A S raised its position in Markel Group by 50.0% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the insurance provider’s stock valued at $29,000 after buying an additional 7 shares during the last quarter. Lee Financial Co purchased a new stake in shares of Markel Group in the second quarter valued at about $30,000. Clearstead Advisors LLC bought a new position in shares of Markel Group during the first quarter valued at about $32,000. Venturi Wealth Management LLC purchased a new position in Markel Group during the first quarter worth about $34,000. Finally, Achmea Investment Management B.V. bought a new stake in Markel Group in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 76.96% of the company’s stock.

Markel Group Stock Performance

NYSE:MKL traded up $33.03 on Tuesday, reaching $1,442.86. 24,913 shares of the company’s stock were exchanged, compared to its average volume of 39,814. The stock has a fifty day simple moving average of $1,453.41 and a 200-day simple moving average of $1,420.57. Markel Group Inc. has a 52 week low of $1,186.56 and a 52 week high of $1,560.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of 10.11 and a beta of 0.75.

Insider Activity at Markel Group

In other Markel Group news, Director A. Lynne Puckett acquired 76 shares of Markel Group stock in a transaction that occurred on Friday, November 3rd. The stock was acquired at an average cost of $1,321.47 per share, for a total transaction of $100,431.72. Following the purchase, the director now owns 1,320 shares of the company’s stock, valued at $1,744,340.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lawrence A. Cunningham purchased 21 shares of the stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average cost of $1,320.81 per share, with a total value of $27,737.01. Following the completion of the acquisition, the director now owns 504 shares in the company, valued at approximately $665,688.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director A. Lynne Puckett acquired 76 shares of Markel Group stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost of $1,321.47 per share, with a total value of $100,431.72. Following the purchase, the director now owns 1,320 shares of the company’s stock, valued at approximately $1,744,340.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 222 shares of company stock worth $295,861 and have sold 1,048 shares worth $1,544,641. 1.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MKL shares. Royal Bank of Canada dropped their price target on Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Jefferies Financial Group started coverage on shares of Markel Group in a report on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price target on the stock. StockNews.com lowered shares of Markel Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Truist Financial dropped their target price on shares of Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,531.25.

Markel Group Company Profile

Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. 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.