JPMorgan Chase & Co. Acquires 138,518 Shares of CorVel Co. (NASDAQ:CRVL)

JPMorgan Chase & Co. grew its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 363.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,631 shares of the business services provider's stock after purchasing an additional 138,518 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.35% of CorVel worth $19,652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its position 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 purchased a new stake in shares of CorVel in the fourth quarter valued at $37,000. US Bancorp DE boosted its position 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 period. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in CorVel by 216.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider's stock worth $59,000 after acquiring an additional 364 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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CorVel Price Performance

NASDAQ:CRVL traded down $1.44 during trading hours on Wednesday, reaching $117.23. The company's stock had a trading volume of 8,808 shares, compared to its average volume of 113,279. CorVel Co. has a one year low of $76.20 and a one year high of $128.61. The business's 50-day moving average is $111.28 and its 200-day moving average is $115.19. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 69.04 and a beta of 0.94.

CorVel (NASDAQ:CRVL - Get Free Report) last posted 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%.

Analyst Ratings Changes

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

Insider Transactions at CorVel

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the transaction, the director now directly owns 551,787 shares of the company's stock, valued at $64,553,561.13. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company's stock.

CorVel Company 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.