Ameriprise Financial Inc. Buys 49,206 Shares of CorVel Co. (NASDAQ:CRVL)

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

Several other institutional investors also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after buying an additional 101 shares during the period. LGT Financial Advisors LLC lifted 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 worth $28,000 after buying an additional 170 shares during the period. Franklin Resources Inc. lifted its holdings in CorVel by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock worth $614,000 after buying an additional 173 shares during the period. Bessemer Group Inc. lifted its holdings in CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after buying an additional 254 shares during the period. Finally, US Bancorp DE lifted its holdings in CorVel by 225.4% in the 4th 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. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey J. Michael sold 16,523 shares of the firm's stock in a transaction that occurred on 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 owns 551,787 shares in the company, valued at $64,553,561.13. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 47.57% of the stock is currently owned by company insiders.

CorVel Stock Performance

Shares of CRVL traded down $4.23 on Friday, reaching $110.36. The stock had a trading volume of 153,028 shares, compared to its average volume of 120,397. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 64.92 and a beta of 1.10. The company has a 50-day simple moving average of $111.98 and a 200-day simple moving average of $116.74. CorVel Co. has a 12-month low of $76.53 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS 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%.

Analyst Ratings Changes

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

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.