Franklin Resources Inc. Purchases 6,120 Shares of CorVel Co. (NASDAQ:CRVL)

Franklin Resources Inc. lifted its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 319.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,037 shares of the business services provider's stock after buying an additional 6,120 shares during the period. Franklin Resources Inc.'s holdings in CorVel were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CRVL. Fifth Third Bancorp lifted its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after acquiring an additional 101 shares during the period. Jones Financial Companies Lllp bought a new position in shares of CorVel in the 4th quarter worth approximately $37,000. US Bancorp DE boosted its holdings in shares of CorVel by 225.4% in 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. GAMMA Investing LLC grew its position in CorVel by 175.2% during 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. Finally, CIBC Private Wealth Group LLC raised its position in CorVel by 300.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock worth $53,000 after acquiring an additional 360 shares during the period. Institutional investors own 51.36% of the company's stock.

CorVel Stock Down 1.7 %

CRVL traded down $2.03 during midday trading on Friday, reaching $115.09. The company had a trading volume of 121,327 shares, compared to its average volume of 114,224. CorVel Co. has a 1 year low of $76.53 and a 1 year high of $128.61. The company has a market cap of $5.91 billion, a P/E ratio of 67.70 and a beta of 0.94. The business has a 50-day moving average of $111.19 and a two-hundred day moving average of $115.44.

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

Insider Activity

In related news, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now owns 314,000 shares of the company's stock, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brandon O'brien sold 1,523 shares of CorVel stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the transaction, the chief financial officer now directly owns 17,142 shares of the company's stock, valued at $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,723 shares of company stock worth $5,757,140 over the last ninety days. Corporate insiders own 47.57% of the company's stock.

Analyst Upgrades and Downgrades

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

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.