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

Legal & General Group Plc increased its stake in shares of CorVel Co. (NASDAQ:CRVL) by 195.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,161 shares of the business services provider’s stock after acquiring an additional 52,367 shares during the quarter. Legal & General Group Plc owned about 0.16% of CorVel worth $8,807,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CRVL. Vanguard Group Inc. increased its position in shares of CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock worth $365,116,000 after purchasing an additional 2,195,466 shares in the last quarter. Geode Capital Management LLC grew its stake in CorVel by 205.1% during the 4th quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider’s stock worth $86,204,000 after buying an additional 520,783 shares during the last quarter. Boston Trust Walden Corp increased its position in CorVel by 196.8% during the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock worth $76,775,000 after buying an additional 457,538 shares during the period. Norges Bank purchased a new stake in CorVel in the fourth quarter valued at approximately $41,393,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of CorVel by 169.3% in the fourth quarter. Wells Fargo & Company MN now owns 447,724 shares of the business services provider’s stock valued at $49,814,000 after acquiring an additional 281,471 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $115.09 on Friday. CorVel Co. has a one year low of $76.20 and a one year high of $128.61. The company has a 50-day simple moving average of $111.25 and a 200-day simple moving average of $115.24. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 67.70 and a beta of 0.94.

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

Insider Buying and Selling

In related news, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,723 shares of company stock valued at $5,757,140 over the last three months. 47.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Friday.

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.