Argent Trust Co Raises Stock Position in CorVel Co. (NASDAQ:CRVL)

Argent Trust Co lifted its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 324.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,351 shares of the business services provider's stock after purchasing an additional 2,561 shares during the period. Argent Trust Co's holdings in CorVel were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CRVL. Vanguard Group Inc. increased its position in shares of CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after buying an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC grew its stake in CorVel by 184.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after acquiring an additional 1,204,611 shares during the period. Neuberger Berman Group LLC increased its holdings in CorVel by 204.6% in the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after acquiring an additional 567,984 shares in the last quarter. Geode Capital Management LLC raised its position in CorVel by 205.1% during the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock worth $86,204,000 after acquiring an additional 520,783 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in CorVel by 196.8% during the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock valued at $76,775,000 after purchasing an additional 457,538 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the transaction, 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. Insiders sold 48,723 shares of company stock valued at $5,757,140 over the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of CorVel from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th.

CorVel Trading Up 2.0 %

NASDAQ:CRVL traded up $2.28 during trading hours on Tuesday, hitting $118.66. 135,835 shares of the stock were exchanged, compared to its average volume of 113,684. The firm's fifty day moving average price is $111.28 and its 200 day moving average price is $115.19. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The company has a market cap of $6.09 billion, a P/E ratio of 69.80 and a beta of 0.94.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

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.