CorVel Co. (NASDAQ:CRVL) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in CorVel Co. (NASDAQ:CRVL) by 154.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 492 shares of the business services provider’s stock after buying an additional 299 shares during the quarter. Federated Hermes Inc.’s holdings in CorVel were worth $55,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 101 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of CorVel by 4.6% in the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 124 shares during the period. Franklin Resources Inc. boosted its holdings in CorVel by 9.9% during the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after buying an additional 173 shares in the last quarter. US Bancorp DE grew its position in CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the period. Finally, GAMMA Investing LLC increased its holdings in CorVel by 175.2% in the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after buying an additional 275 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Stock Down 1.7 %

NASDAQ:CRVL opened at $115.09 on Friday. CorVel Co. has a 52-week low of $76.53 and a 52-week high of $128.61. The stock has a fifty day simple moving average of $111.19 and a 200-day simple moving average of $115.36. The company has a market capitalization of $5.91 billion, a PE ratio of 67.70 and a beta of 0.94.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results 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%.

Insiders Place Their Bets

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of the 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 of the company’s stock, valued at $2,049,497.52. This represents a 8.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now directly owns 551,787 shares of the company’s stock, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,723 shares of company stock valued at $5,757,140. Corporate insiders own 47.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CorVel from a “hold” rating to a “buy” rating in a research note 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.