Truist Financial Corp Sells 1,306 Shares of Markel Group Inc. (NYSE:MKL)

Posted by Defense World Staff on Aug 8th, 2023

Truist Financial Corp reduced its position in shares of Markel Group Inc. (NYSE:MKL – Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,635 shares of the insurance provider’s stock after selling 1,306 shares during the period. Truist Financial Corp owned 0.15% of Markel Group worth $25,082,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MKL. Delta Asset Management LLC TN purchased a new stake in Markel Group during the fourth quarter worth about $29,000. Belpointe Asset Management LLC purchased a new position in Markel Group during the fourth quarter valued at approximately $30,000. U.S. Capital Wealth Advisors LLC purchased a new position in Markel Group during the fourth quarter valued at approximately $33,000. Venturi Wealth Management LLC bought a new stake in Markel Group during the first quarter valued at approximately $34,000. Finally, Achmea Investment Management B.V. bought a new stake in Markel Group during the first quarter valued at approximately $41,000. 76.61% of the stock is owned by institutional investors.

Markel Group Stock Up 2.2 %

Shares of Markel Group stock opened at $1,498.75 on Tuesday. The company’s fifty day simple moving average is $1,376.18 and its two-hundred day simple moving average is $1,344.56. The company has a market cap of $19.87 billion, a P/E ratio of 10.71 and a beta of 0.78. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.28. Markel Group Inc. has a 12-month low of $1,064.09 and a 12-month high of $1,507.95.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MKL shares. Truist Financial boosted their price objective on shares of Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com raised shares of Markel Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 30th.

Get Our Latest Stock Analysis on Markel Group

Insider Transactions at Markel Group

In other Markel Group news, CEO Thomas Sinnickson Gayner bought 100 shares of Markel Group stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $1,479.47 per share, with a total value of $147,947.00. Following the transaction, the chief executive officer now directly owns 44,885 shares of the company’s stock, valued at $66,406,010.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Lawrence A. Cunningham purchased 50 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were bought at an average price of $1,336.25 per share, for a total transaction of $66,812.50. Following the purchase, the director now directly owns 347 shares in the company, valued at approximately $463,678.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Sinnickson Gayner bought 100 shares of the stock in a transaction on Friday, August 4th. The shares were bought at an average price of $1,479.47 per share, for a total transaction of $147,947.00. Following the purchase, the chief executive officer now directly owns 44,885 shares in the company, valued at approximately $66,406,010.95. The disclosure for this purchase can be found here. Insiders own 1.75% of the company’s stock.

About Markel Group

(Free Report)

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.