Vanguard Group Inc. Buys 2,195,466 Shares of CorVel Co. (NASDAQ:CRVL)

Vanguard Group Inc. lifted its position in CorVel Co. (NASDAQ:CRVL) by 202.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,281,649 shares of the business services provider’s stock after buying an additional 2,195,466 shares during the quarter. Vanguard Group Inc. owned about 6.43% of CorVel worth $365,116,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of CorVel in the 3rd quarter valued at about $88,000. Fifth Third Bancorp lifted its stake in CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp bought a new position in CorVel during the fourth quarter worth about $37,000. US Bancorp DE increased its position in CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in CorVel by 175.2% in the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after buying an additional 275 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th.

CorVel Stock Performance

NASDAQ CRVL opened at $111.50 on Thursday. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The stock has a market cap of $5.73 billion, a PE ratio of 65.59 and a beta of 1.06. The firm has a 50-day moving average of $112.42 and a 200-day moving average of $114.73.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Activity

In other news, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now owns 568,310 shares in the company, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,200 shares of company stock worth $3,824,115. Corporate insiders own 47.57% of the company’s stock.

CorVel Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. 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. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.