Texas Permanent School Fund Corp Acquires 1,208 Shares of CorVel Co. (NASDAQ:CRVL)

Texas Permanent School Fund Corp boosted its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 15.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,137 shares of the business services provider’s stock after acquiring an additional 1,208 shares during the period. Texas Permanent School Fund Corp’s holdings in CorVel were worth $2,323,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in CorVel during the 4th quarter worth approximately $19,974,000. Janus Henderson Group PLC lifted its position in CorVel by 997.8% in the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in CorVel by 41.8% in the 2nd 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 period. Sei Investments Co. increased its holdings in CorVel by 65.8% during the 1st 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 in the last quarter. Finally, Curated Wealth Partners LLC raised its stake in shares of CorVel by 180.6% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,130 shares of the business services provider’s stock valued at $542,000 after purchasing an additional 4,773 shares during the period. Institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Corstar Holdings Inc sold 10,649 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $261.36, for a total value of $2,783,222.64. Following the completion of the sale, the insider now directly owns 6,333,387 shares of the company’s stock, valued at $1,655,294,026.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Jennifer Yoss sold 1,214 shares of CorVel stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $300.88, for a total transaction of $365,268.32. Following the completion of the sale, the vice president now directly owns 680 shares of the company’s stock, valued at approximately $204,598.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Corstar Holdings Inc sold 10,649 shares of CorVel stock in a transaction on Monday, July 8th. The stock was sold at an average price of $261.36, for a total value of $2,783,222.64. Following the sale, the insider now directly owns 6,333,387 shares of the company’s stock, valued at approximately $1,655,294,026.32. The disclosure for this sale can be found here. Insiders have sold a total of 72,431 shares of company stock valued at $19,961,847 over the last 90 days. 47.57% of the stock is currently owned by insiders.

CorVel Trading Up 1.3 %

NASDAQ CRVL opened at $321.03 on Tuesday. The company has a market cap of $5.51 billion, a PE ratio of 72.96 and a beta of 1.08. CorVel Co. has a 12 month low of $187.92 and a 12 month high of $324.93. The stock has a 50 day moving average of $300.84 and a 200-day moving average of $266.78.

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

Wall Street Analyst Weigh In

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

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.