Principal Financial Group Inc. Cuts Stock Position in CorVel Co. (NASDAQ:CRVL)

Principal Financial Group Inc. cut its position in CorVel Co. (NASDAQ:CRVL) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,914 shares of the business services provider’s stock after selling 1,941 shares during the period. Principal Financial Group Inc. owned 0.27% of CorVel worth $11,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after buying an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after buying an additional 147 shares during the last quarter. Spire Wealth Management boosted its stake in CorVel by 815.0% during the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $96,000 after buying an additional 326 shares during the last quarter. AXS Investments LLC acquired a new position in CorVel during the fourth quarter worth $189,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in CorVel during the fourth quarter worth $264,000. 51.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

Insider Activity at CorVel

In other CorVel news, major shareholder Corstar Holdings Inc sold 23,429 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $264.90, for a total transaction of $6,206,342.10. Following the sale, the insider now owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other CorVel news, major shareholder Corstar Holdings Inc sold 23,429 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $264.90, for a total transaction of $6,206,342.10. Following the sale, the insider now owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Hoops sold 1,700 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $300.00, for a total value of $510,000.00. Following the sale, the director now owns 9,396 shares in the company, valued at approximately $2,818,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,631 shares of company stock worth $20,705,425. 47.57% of the stock is currently owned by company insiders.

CorVel Stock Down 1.9 %

NASDAQ:CRVL opened at $305.19 on Friday. CorVel Co. has a 52 week low of $187.92 and a 52 week high of $323.34. The company has a market capitalization of $5.24 billion, a P/E ratio of 69.36 and a beta of 1.08. The stock’s fifty day moving average is $294.69 and its two-hundred day moving average is $264.20.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

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.