CorVel Co. (NASDAQ:CRVL) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 182.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,228 shares of the business services provider's stock after purchasing an additional 49,206 shares during the period. Ameriprise Financial Inc. owned approximately 0.15% of CorVel worth $8,481,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Algert Global LLC increased its holdings in CorVel by 202.5% in the 4th quarter. Algert Global LLC now owns 97,649 shares of the business services provider's stock valued at $10,864,000 after purchasing an additional 65,365 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after purchasing an additional 170 shares in the last quarter. Comerica Bank increased its holdings in CorVel by 197.6% in the 4th quarter. Comerica Bank now owns 25,623 shares of the business services provider's stock valued at $2,851,000 after purchasing an additional 17,013 shares in the last quarter. Voleon Capital Management LP acquired a new stake in CorVel in the 4th quarter valued at $846,000. Finally, Northern Trust Corp increased its holdings in CorVel by 210.8% in the 4th quarter. Northern Trust Corp now owns 379,743 shares of the business services provider's stock valued at $42,250,000 after purchasing an additional 257,561 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

Insider Activity

In related news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the transaction, the director now directly owns 551,787 shares in the company, valued at approximately $64,553,561.13. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 47.57% of the company's stock.

CorVel Stock Down 3.7%

Shares of CorVel stock traded down $4.23 during trading hours on Monday, hitting $110.36. 153,028 shares of the company's stock traded hands, compared to its average volume of 120,397. The stock has a 50 day simple moving average of $112.02 and a 200-day simple moving average of $116.67. The company has a market cap of $5.67 billion, a PE ratio of 64.92 and a beta of 1.10. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. The company had revenue of $231.51 million during the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

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.