Legal & General Group Plc Takes $4.26 Million Position in CorVel Corp. $CRVL

Key Points

• Legal & General Group Plc acquired 68,190 CorVel shares worth approximately $4.26 million in the second quarter, joining several other institutional investors. Institutions now own 51.36% of CorVel’s outstanding stock.
• CorVel reported quarterly EPS of $0.63 on revenue of $259.93 million, with an 11.72% net margin and 29.92% return on equity. Shares opened at $68.23, while the stock’s consensus analyst rating remains “Hold.”
• CorVel insiders sold 20,197 shares worth approximately $1.32 million over the past three months, including sales by directors R. Jessup and Jeffrey J. Michael.

Legal & General Group Plc bought a new position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,190 shares of the business services provider's stock, valued at approximately $4,263,000. Legal & General Group Plc owned approximately 0.13% of CorVel at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Walleye Capital LLC bought a new stake in shares of CorVel in the second quarter worth $3,308,000. NewEdge Wealth LLC acquired a new position in CorVel in the second quarter valued at approximately $1,956,000. Callan Family Office LLC acquired a new stake in CorVel in the second quarter worth $3,833,000. Deutsche Bank AG acquired a new position in CorVel during the 2nd quarter worth approximately $3,772,000. Finally, BlackRock Inc. acquired a new stake in CorVel in the 2nd quarter valued at $321,316,000. 51.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded CorVel from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

CorVel Trading Down 0.7%

Shares of CorVel stock opened at $68.23 on Friday. The firm has a market capitalization of $3.48 billion, a PE ratio of 30.32 and a beta of 0.97. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $93.45. The business's 50-day moving average price is $64.25 and its 200-day moving average price is $58.99.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. The company had revenue of $259.93 million during the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%.

Insider Buying and Selling

In other CorVel news, Director R. Jessup sold 4,023 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $70.07, for a total transaction of $281,891.61. Following the completion of the transaction, the director owned 111,798 shares of the company's stock, valued at $7,833,685.86. This represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Michael sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the transaction, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,197 shares of company stock worth $1,315,568. 39.72% of the stock is owned by company insiders.

CorVel Company Profile

CorVel Corporation NASDAQ: CRVL is a technology-driven provider of workers' compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel's integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company's product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).

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