Raymond James Financial Inc. Makes New Investment in CorVel Co. (NASDAQ:CRVL)

Raymond James Financial Inc. bought a new position in shares of CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 225,805 shares of the business services provider’s stock, valued at approximately $25,123,000. Raymond James Financial Inc. owned about 0.44% of CorVel as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boston Trust Walden Corp boosted its position in shares of CorVel by 196.8% during the 4th quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock valued at $76,775,000 after acquiring an additional 457,538 shares during the last quarter. State Street Corp boosted its position in shares of CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after acquiring an additional 2,959 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CorVel by 203.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,644 shares of the business services provider’s stock valued at $29,111,000 after acquiring an additional 175,408 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after acquiring an additional 9,571 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of CorVel by 184.2% during the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider’s stock valued at $20,410,000 after acquiring an additional 118,888 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Trading Up 3.1 %

Shares of CRVL stock opened at $106.65 on Friday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 62.74 and a beta of 1.06. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61. The company’s 50-day moving average price is $112.21 and its 200-day moving average price is $114.15.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) 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 cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Thursday.

Insider Activity at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,200 shares of company stock worth $3,824,115. Company insiders own 47.57% of the company’s stock.

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.