Aviva PLC Grows Stake in CorVel Co. (NASDAQ:CRVL)

Aviva PLC increased its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 143.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,049 shares of the business services provider's stock after acquiring an additional 2,971 shares during the quarter. Aviva PLC's holdings in CorVel were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRVL. Wells Fargo & Company MN grew its position in shares of CorVel by 169.3% in the fourth quarter. Wells Fargo & Company MN now owns 447,724 shares of the business services provider's stock valued at $49,814,000 after purchasing an additional 281,471 shares in the last quarter. Cynosure Group LLC increased its position in shares of CorVel by 131.2% during the fourth quarter. Cynosure Group LLC now owns 2,643 shares of the business services provider's stock valued at $294,000 after buying an additional 1,500 shares during the period. Kesler Norman & Wride LLC lifted its holdings in shares of CorVel by 295.4% in the fourth quarter. Kesler Norman & Wride LLC now owns 6,904 shares of the business services provider's stock worth $769,000 after buying an additional 5,158 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CorVel by 205.1% in the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock valued at $86,204,000 after acquiring an additional 520,783 shares during the period. Finally, Franklin Resources Inc. grew its stake in CorVel by 319.2% during the fourth quarter. Franklin Resources Inc. now owns 8,037 shares of the business services provider's stock valued at $894,000 after acquiring an additional 6,120 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the business's 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 completion of the sale, the director now owns 314,000 shares of the company's stock, valued at $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 three months, insiders have sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

CorVel Price Performance

Shares of NASDAQ:CRVL traded down $1.46 on Wednesday, hitting $117.20. The company's stock had a trading volume of 21,097 shares, compared to its average volume of 113,326. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The company has a market capitalization of $6.02 billion, a PE ratio of 69.09 and a beta of 0.94. The company has a 50-day simple moving average of $111.28 and a 200 day simple moving average of $115.19.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly 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%.

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.