Corebridge Financial Inc. Buys 9,088 Shares of CorVel Co. (NASDAQ:CRVL)

Corebridge Financial Inc. grew its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 178.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,187 shares of the business services provider's stock after purchasing an additional 9,088 shares during the quarter. Corebridge Financial Inc.'s holdings in CorVel were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in CorVel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider's stock valued at $28,190,000 after acquiring an additional 6,061 shares in the last quarter. Citigroup Inc. raised its holdings in shares of CorVel by 68.5% in the third quarter. Citigroup Inc. now owns 11,662 shares of the business services provider's stock valued at $3,812,000 after purchasing an additional 4,742 shares during the last quarter. Cerity Partners LLC bought a new position in shares of CorVel during the third quarter valued at about $773,000. FMR LLC boosted its holdings in CorVel by 193.1% during the third quarter. FMR LLC now owns 4,306 shares of the business services provider's stock worth $1,408,000 after purchasing an additional 2,837 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of CorVel by 13.7% in the third quarter. BNP Paribas Financial Markets now owns 6,094 shares of the business services provider's stock valued at $1,992,000 after acquiring an additional 734 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

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CorVel Trading Down 1.5 %

Shares of NASDAQ:CRVL traded down $1.70 during mid-day trading on Monday, reaching $108.81. The company had a trading volume of 156,290 shares, compared to its average volume of 111,954. The company's 50-day moving average price is $112.12 and its 200-day moving average price is $114.89. CorVel Co. has a one year low of $76.20 and a one year high of $128.61. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 64.01 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%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a report on Thursday, March 13th.

Insiders Place Their Bets

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the transaction, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the company's 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 completion of the transaction, the director now owns 118,213 shares of the company's stock, valued at $13,758,811.07. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock worth $3,824,115 over the last quarter. 47.57% of the stock is currently owned by company insiders.

About CorVel

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.