Principal Financial Group Inc. Grows Holdings in CorVel Corp. (NASDAQ:CRVL)

Principal Financial Group Inc. grew its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,654 shares of the business services provider's stock after purchasing an additional 3,818 shares during the quarter. Principal Financial Group Inc. owned about 0.28% of CorVel worth $16,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Revisor Wealth Management LLC bought a new position in shares of CorVel in the first quarter valued at approximately $201,000. KBC Group NV lifted its holdings in shares of CorVel by 35.1% in the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider's stock worth $175,000 after acquiring an additional 406 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of CorVel by 8.1% in the 1st quarter. Spire Wealth Management now owns 5,516 shares of the business services provider's stock worth $618,000 after acquiring an additional 413 shares during the last quarter. Mayfair Advisory Group LLC lifted its holdings in shares of CorVel by 7.2% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock worth $248,000 after acquiring an additional 148 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CorVel by 3.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider's stock worth $1,606,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

Insider Transactions at CorVel

In other news, insider Maxim Shishin sold 2,400 shares of CorVel stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $108.09, for a total value of $259,416.00. Following the completion of the transaction, the insider owned 7,050 shares of the company's stock, valued at $762,034.50. The trade was a 25.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Judd Jessup sold 935 shares of CorVel stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $113.50, for a total value of $106,122.50. Following the completion of the transaction, the director directly owned 129,519 shares of the company's stock, valued at approximately $14,700,406.50. This represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,079 shares of company stock worth $1,446,023 over the last quarter. Corporate insiders own 44.56% of the company's stock.

CorVel Stock Down 2.2%

Shares of CRVL stock traded down $2.13 during mid-day trading on Tuesday, reaching $95.86. 99,694 shares of the company's stock traded hands, compared to its average volume of 122,187. CorVel Corp. has a 12 month low of $88.89 and a 12 month high of $128.61. The company has a market cap of $4.93 billion, a P/E ratio of 52.19 and a beta of 0.98. The company's 50-day moving average price is $107.16 and its 200-day moving average price is $110.21.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%. The firm had revenue of $231.51 million for the quarter.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of 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.