Northern Trust Corp Sells 4,039 Shares of CorVel Corp. $CRVL

Key Points

• Northern Trust Corp reduced its stake in CorVel Corp. by 1.1%, resulting in ownership of approximately 0.73% of the company, valued at $42 million.
• CorVel's stock is currently trading at $89.30, which is down 1.0%, with a 52-week range between $85.13 and $128.61, and a market capitalization of $4.58 billion.
• Insider transactions include a significant sale by Maxim Shishin, who sold 12,000 shares, reducing their ownership stake by 62.99%.

Northern Trust Corp reduced its position in CorVel Corp. (NASDAQ:CRVL - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,704 shares of the business services provider's stock after selling 4,039 shares during the quarter. Northern Trust Corp owned approximately 0.73% of CorVel worth $42,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRVL. Xponance Inc. grew its position in shares of CorVel by 4.9% during the 1st quarter. Xponance Inc. now owns 2,008 shares of the business services provider's stock worth $225,000 after buying an additional 94 shares during the period. Ballentine Partners LLC lifted its stake in CorVel by 4.2% in the 1st quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock valued at $283,000 after acquiring an additional 102 shares in the last quarter. Mayfair Advisory Group LLC lifted its stake in CorVel by 7.2% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock valued at $248,000 after acquiring an additional 148 shares in the last quarter. LGT Financial Advisors LLC lifted its stake 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 acquiring an additional 170 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of CorVel during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 51.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered CorVel from a "buy" rating to a "hold" rating in a report on Saturday.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O'brien sold 3,957 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the sale, the chief financial officer owned 11,804 shares of the company's stock, valued at approximately $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Maxim Shishin sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company's stock, valued at $628,578. This trade represents a 62.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,357 shares of company stock valued at $1,758,512 in the last ninety days. 44.56% of the stock is currently owned by insiders.

CorVel Price Performance

Shares of CRVL stock traded down $0.77 on Tuesday, hitting $88.28. 93,198 shares of the company's stock were exchanged, compared to its average volume of 133,771. The company has a 50 day moving average of $93.47 and a 200 day moving average of $104.43. CorVel Corp. has a 12 month low of $85.13 and a 12 month high of $128.61. The stock has a market cap of $4.53 billion, a P/E ratio of 45.52 and a beta of 0.96.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 EPS for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

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.