Arizona State Retirement System Has $909,000 Holdings in CorVel Co. (NASDAQ:CRVL)

Arizona State Retirement System increased its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 200.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,167 shares of the business services provider's stock after acquiring an additional 5,448 shares during the period. Arizona State Retirement System's holdings in CorVel were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRVL. Boston Trust Walden Corp increased its stake in shares of CorVel by 196.8% in the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock worth $76,775,000 after acquiring an additional 457,538 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in CorVel by 203.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 261,644 shares of the business services provider's stock valued at $29,111,000 after purchasing an additional 175,408 shares in the last quarter. Bank of New York Mellon Corp increased its position in CorVel by 184.2% in the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider's stock worth $20,410,000 after purchasing an additional 118,888 shares during the last quarter. Principal Financial Group Inc. increased its position in CorVel by 210.2% in the 4th quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock worth $15,558,000 after purchasing an additional 94,751 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of CorVel by 152.8% during the 4th quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock worth $12,137,000 after purchasing an additional 65,940 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at CorVel

In other news, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares in the company, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on 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 sale, the director now owns 314,000 shares of the company's stock, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,200 shares of company stock worth $3,824,115. 47.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CorVel from a "buy" rating to a "hold" rating in a research note on Thursday.

CorVel Stock Down 0.4 %

CRVL stock traded down $0.44 during trading hours on Monday, hitting $106.21. The company's stock had a trading volume of 72,738 shares, compared to its average volume of 105,604. The stock has a 50 day moving average price of $112.21 and a two-hundred day moving average price of $114.21. CorVel Co. has a 12 month low of $76.20 and a 12 month high of $128.61. The company has a market capitalization of $5.45 billion, a PE ratio of 62.48 and a beta of 1.06.

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

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.