CorVel Co. (NASDAQ:CRVL) Shares Sold by Principal Financial Group Inc.

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

A number of other large investors have also recently made changes to their positions in CRVL. Janus Henderson Group PLC lifted its position in CorVel by 997.8% during the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after acquiring an additional 42,696 shares during the period. Quadrature Capital Ltd acquired a new stake in CorVel during the 4th quarter valued at $887,000. SG Americas Securities LLC acquired a new stake in CorVel during the 1st quarter valued at $896,000. Sei Investments Co. boosted its holdings in shares of CorVel by 65.8% during the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after purchasing an additional 8,338 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of CorVel by 41.8% during the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Trading Down 1.9 %

Shares of CorVel stock opened at $305.19 on Friday. The business’s fifty day moving average price is $294.69 and its 200 day moving average price is $264.20. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $323.34. The stock has a market capitalization of $5.24 billion, a P/E ratio of 69.36 and a beta of 1.08.

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

Analyst Ratings Changes

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

Insider Transactions at CorVel

In other news, EVP Mark E. Bertels sold 200 shares of CorVel stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $231.14, for a total transaction of $46,228.00. Following the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at $198,318.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director R Judd Jessup sold 2,131 shares of CorVel stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51. Following the sale, the director now directly owns 43,277 shares of the company’s stock, valued at $12,775,803.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark E. Bertels sold 200 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.14, for a total value of $46,228.00. Following the completion of the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at $198,318.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,631 shares of company stock valued at $20,705,425. 47.57% of the stock is currently owned by insiders.

About CorVel

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.