The Manufacturers Life Insurance Company Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

The Manufacturers Life Insurance Company raised its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 192.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,867 shares of the business services provider's stock after buying an additional 9,785 shares during the period. The Manufacturers Life Insurance Company's holdings in CorVel were worth $1,654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRVL. Barclays PLC boosted its position in shares of CorVel by 380.8% during the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider's stock valued at $5,223,000 after purchasing an additional 12,654 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock valued at $614,000 after purchasing an additional 173 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CorVel by 106.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider's stock valued at $12,459,000 after purchasing an additional 19,667 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after purchasing an additional 275 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its position in shares of CorVel by 136.8% during the 4th quarter. Eagle Bay Advisors LLC now owns 540 shares of the business services provider's stock valued at $60,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 51.36% of the company's stock.

Insiders Place Their Bets

In other news, Director Jeffrey J. Michael sold 10,477 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now owns 568,310 shares in the company, valued at $66,179,699.50. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now owns 118,213 shares in the company, valued at $13,758,811.07. This represents a 7.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,200 shares of company stock worth $4,340,250. Corporate insiders own 47.57% of the company's stock.

CorVel Price Performance

Shares of CorVel stock traded up $0.24 on Tuesday, hitting $114.32. 112,889 shares of the company's stock traded hands, compared to its average volume of 119,463. The company has a fifty day moving average of $110.80 and a two-hundred day moving average of $116.26. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 67.25 and a beta of 1.10. CorVel Co. has a one year low of $76.53 and a one year high of $128.61.

Analysts Set New Price Targets

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

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.