Legal & General Group Plc Boosts Stock Position in CorVel Co. (NASDAQ:CRVL)

Legal & General Group Plc raised its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 195.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,161 shares of the business services provider's stock after purchasing an additional 52,367 shares during the period. Legal & General Group Plc owned approximately 0.16% of CorVel worth $8,807,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CRVL. Invesco Ltd. increased its stake in CorVel by 225.8% in the fourth quarter. Invesco Ltd. now owns 284,766 shares of the business services provider's stock valued at $31,683,000 after acquiring an additional 197,358 shares during the last quarter. Bank of Montreal Can increased its stake in shares of CorVel by 235.7% in the fourth quarter. Bank of Montreal Can now owns 5,136 shares of the business services provider's stock valued at $571,000 after buying an additional 3,606 shares during the period. Cerity Partners LLC lifted its position in shares of CorVel by 3,322.3% in the 4th quarter. Cerity Partners LLC now owns 80,972 shares of the business services provider's stock worth $9,496,000 after purchasing an additional 78,606 shares during the period. Federated Hermes Inc. boosted its position in CorVel by 154.9% during the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock valued at $55,000 after acquiring an additional 299 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of CorVel by 196.5% in the 4th quarter. Quadrant Capital Group LLC now owns 768 shares of the business services provider's stock valued at $85,000 after purchasing an additional 509 shares during the period. 51.36% of the stock is currently owned by institutional investors.

CorVel Stock Up 3.1 %

CRVL stock traded up $3.48 during midday trading on Wednesday, reaching $116.35. 7,001 shares of the company's stock traded hands, compared to its average volume of 114,604. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 68.44 and a beta of 0.94. The firm's fifty day moving average price is $110.94 and its 200-day moving average price is $115.46.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

Insider Activity at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brandon O'brien sold 1,523 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the completion of the transaction, the chief financial officer now directly owns 17,142 shares in the company, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,723 shares of company stock valued at $5,757,140. 47.57% of the stock is owned by insiders.

CorVel Company 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.