Principal Financial Group Inc. Sells 1,829 Shares of CorVel Co. (NASDAQ:CRVL)

Principal Financial Group Inc. cut its holdings in CorVel Co. (NASDAQ:CRVL) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,085 shares of the business services provider’s stock after selling 1,829 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of CorVel worth $14,738,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of CorVel during the first quarter valued at about $896,000. Sei Investments Co. lifted its holdings in CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after purchasing an additional 8,338 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of CorVel by 6.3% during the 1st quarter. Russell Investments Group Ltd. now owns 16,928 shares of the business services provider’s stock worth $4,451,000 after acquiring an additional 999 shares during the period. ProShare Advisors LLC raised its holdings in shares of CorVel by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 1,766 shares of the business services provider’s stock worth $464,000 after acquiring an additional 120 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of CorVel by 39.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 3,478 shares of the business services provider’s stock worth $915,000 after purchasing an additional 990 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the sale, the chief financial officer now owns 6,502 shares in the company, valued at $2,047,999.96. This represents a 13.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the sale, the director now owns 40,777 shares in the company, valued at approximately $12,706,113.20. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. 47.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

CorVel Stock Down 0.6 %

CRVL stock opened at $344.74 on Friday. The business has a 50 day moving average price of $317.94 and a 200 day moving average price of $289.35. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 73.72 and a beta of 1.10. CorVel Co. has a fifty-two week low of $203.90 and a fifty-two week high of $367.84.

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.