Vestcor Inc Increases Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Vestcor Inc grew its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 200.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,825 shares of the business services provider's stock after purchasing an additional 2,550 shares during the quarter. Vestcor Inc's holdings in CorVel were worth $426,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRVL. SkyView Investment Advisors LLC boosted its stake in CorVel by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 67 shares during the last quarter. Fifth Third Bancorp grew its stake in CorVel by 45.9% during the 4th 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 in the last quarter. Advisors Asset Management Inc. raised its holdings in CorVel by 121.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider's stock valued at $67,000 after acquiring an additional 112 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in CorVel by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider's stock worth $931,000 after purchasing an additional 124 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock worth $614,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

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CorVel Stock Performance

Shares of NASDAQ CRVL traded up $0.54 during trading on Friday, hitting $107.86. 279,639 shares of the company were exchanged, compared to its average volume of 106,504. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The company has a fifty day moving average price of $112.02 and a 200-day moving average price of $114.11. The firm has a market capitalization of $5.54 billion, a PE ratio of 63.45 and a beta of 1.06.

CorVel (NASDAQ:CRVL - Get Free Report) last issued 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 Buying and Selling

In related news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. This trade represents a 8.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the completion of the transaction, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,200 shares of company stock worth $3,824,115. Company insiders own 47.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.