Vanguard Group Inc. Decreases Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Vanguard Group Inc. decreased its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,132,437 shares of the business services provider’s stock after selling 2,173 shares during the period. Vanguard Group Inc. owned approximately 0.07% of CorVel worth $279,950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CRVL. Norges Bank acquired a new position in shares of CorVel during the fourth quarter worth about $19,974,000. West Coast Financial LLC lifted its position in CorVel by 98.9% during the 4th quarter. West Coast Financial LLC now owns 29,198 shares of the business services provider’s stock worth $7,218,000 after acquiring an additional 14,515 shares in the last quarter. Stifel Financial Corp lifted its position in CorVel by 36.3% during the 3rd quarter. Stifel Financial Corp now owns 23,982 shares of the business services provider’s stock worth $4,716,000 after acquiring an additional 6,385 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in CorVel by 117.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 10,600 shares of the business services provider’s stock worth $2,084,000 after acquiring an additional 5,724 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in CorVel by 77.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after acquiring an additional 4,764 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.

Insider Activity at CorVel

In other news, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now owns 266,584 shares of the company’s stock, valued at $73,843,768. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CorVel news, Chairman V Gordon Clemons sold 2,000 shares of CorVel stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total value of $554,000.00. Following the completion of the transaction, the chairman now owns 266,584 shares of the company’s stock, valued at $73,843,768. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at $2,023,119.75. The disclosure for this sale can be found here. Insiders have sold 6,200 shares of company stock valued at $1,574,528 over the last ninety days. Corporate insiders own 48.71% of the company’s stock.

CorVel Price Performance

Shares of CorVel stock opened at $254.27 on Monday. CorVel Co. has a 1-year low of $187.92 and a 1-year high of $281.41. The company has a market capitalization of $4.36 billion, a PE ratio of 57.79 and a beta of 1.11. The business has a 50-day moving average of $250.64 and a 200-day moving average of $244.91.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $1.12 earnings per share for the quarter. CorVel had a return on equity of 33.49% and a net margin of 9.59%. The firm had revenue of $207.23 million during the quarter.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs.