Jones Financial Companies Lllp Purchases New Position in CorVel Co. (NASDAQ:CRVL)

Jones Financial Companies Lllp purchased a new stake in shares of CorVel Co. (NASDAQ:CRVL) in the 4th quarter, Holdings Channel reports. The fund purchased 333 shares of the business services provider’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CRVL. Boston Trust Walden Corp increased its position in shares of CorVel by 196.8% during the fourth 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 in the last quarter. Bank of New York Mellon Corp grew its position in CorVel by 184.2% in the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider’s stock worth $20,410,000 after purchasing an additional 118,888 shares during the period. Principal Financial Group Inc. grew its position in CorVel by 210.2% in the 4th quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider’s stock worth $15,558,000 after purchasing an additional 94,751 shares during the period. West Coast Financial LLC grew its position in CorVel by 201.4% in the 4th quarter. West Coast Financial LLC now owns 90,534 shares of the business services provider’s stock worth $10,073,000 after purchasing an additional 60,492 shares during the period. Finally, Rhumbline Advisers grew its position in CorVel by 210.6% in the 4th quarter. Rhumbline Advisers now owns 84,724 shares of the business services provider’s stock worth $9,426,000 after purchasing an additional 57,445 shares during the period. Institutional investors own 51.36% of the company’s stock.

CorVel Trading Down 0.4 %

NASDAQ:CRVL opened at $105.79 on Wednesday. CorVel Co. has a 12 month low of $76.20 and a 12 month high of $128.61. The company has a market cap of $5.43 billion, a PE ratio of 62.23 and a beta of 1.06. The company has a 50 day simple moving average of $112.09 and a two-hundred day simple moving average of $114.20.

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

Insider Transactions at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the transaction, the director now owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brandon O’brien sold 1,523 shares of CorVel stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction 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. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,200 shares of company stock worth $3,824,115 in the last 90 days. 47.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.

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.