State of Alaska Department of Revenue Trims Stock Position in CorVel Co. (NASDAQ:CRVL)

State of Alaska Department of Revenue cut its stake in shares of CorVel Co. (NASDAQ:CRVLGet Rating) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,388 shares of the business services provider’s stock after selling 670 shares during the period. State of Alaska Department of Revenue’s holdings in CorVel were worth $884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRVL. JPMorgan Chase & Co. raised its stake in CorVel by 16.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,993 shares of the business services provider’s stock valued at $1,515,000 after acquiring an additional 1,252 shares during the last quarter. American Century Companies Inc. raised its stake in CorVel by 17.0% during the 1st quarter. American Century Companies Inc. now owns 1,361 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 198 shares during the last quarter. Citigroup Inc. raised its stake in CorVel by 4.1% during the 1st quarter. Citigroup Inc. now owns 9,072 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 357 shares during the last quarter. MetLife Investment Management LLC increased its position in CorVel by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 4,921 shares of the business services provider’s stock worth $829,000 after purchasing an additional 1,759 shares during the period. Finally, Rhumbline Advisers increased its position in CorVel by 4.1% during the 1st quarter. Rhumbline Advisers now owns 25,329 shares of the business services provider’s stock worth $4,266,000 after purchasing an additional 1,008 shares during the period. 50.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CorVel

In other CorVel news, Chairman V Gordon Clemons sold 1,066 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total transaction of $159,963.96. Following the transaction, the chairman now owns 430,534 shares of the company’s stock, valued at approximately $64,605,932.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CorVel news, Chairman V Gordon Clemons sold 1,066 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total transaction of $159,963.96. Following the transaction, the chairman now owns 430,534 shares of the company’s stock, valued at approximately $64,605,932.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark E. Bertels sold 750 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $153.00, for a total value of $114,750.00. Following the transaction, the executive vice president now directly owns 850 shares in the company, valued at approximately $130,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,317 shares of company stock valued at $2,032,034. 48.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on CorVel in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

CorVel Price Performance

CRVL opened at $144.12 on Monday. CorVel Co. has a 1-year low of $129.19 and a 1-year high of $210.93. The stock’s 50 day simple moving average is $148.41 and its 200 day simple moving average is $151.86. The stock has a market cap of $2.49 billion, a P/E ratio of 39.81 and a beta of 1.00.

CorVel (NASDAQ:CRVLGet Rating) last posted its earnings results on Tuesday, November 1st. The business services provider reported $0.83 earnings per share (EPS) for the quarter. CorVel had a return on equity of 31.22% and a net margin of 9.40%. The firm had revenue of $177.43 million for the quarter.

About CorVel

(Get Rating)

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.

Further Reading

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Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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