Northern Trust Corp Increases Stock Position in CorVel Co. (NASDAQ:CRVL)

Northern Trust Corp grew its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 210.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,743 shares of the business services provider's stock after acquiring an additional 257,561 shares during the quarter. Northern Trust Corp owned about 0.74% of CorVel worth $42,250,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRVL. Bessemer Group Inc. lifted its stake in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Fifth Third Bancorp grew its holdings in CorVel by 45.9% during the fourth 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 period. Jones Financial Companies Lllp purchased a new stake in CorVel in the 4th quarter worth approximately $37,000. US Bancorp DE raised its position in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after purchasing an additional 266 shares during the period. Finally, GAMMA Investing LLC raised its holdings 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 acquiring an additional 275 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Brandon O'brien sold 1,523 shares of the company'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 owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction on 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 sale, the director now owns 118,213 shares of the company's stock, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,723 shares of company stock worth $4,522,340. 47.57% of the stock is currently owned by corporate insiders.

CorVel Trading Up 0.3 %

CRVL traded up $0.29 during trading hours on Friday, hitting $112.51. The company's stock had a trading volume of 192,286 shares, compared to its average volume of 119,337. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 66.18 and a beta of 1.10. The business's 50-day moving average price is $110.67 and its 200-day moving average price is $116.07.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

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.