CorVel Co. (NASDAQ:CRVL) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in CorVel Co. (NASDAQ:CRVL) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,632 shares of the business services provider’s stock after selling 61 shares during the period. Arizona State Retirement System’s holdings in CorVel were worth $651,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRVL. JPMorgan Chase & Co. lifted its holdings in shares of CorVel by 16.2% in the first quarter. JPMorgan Chase & Co. now owns 8,993 shares of the business services provider’s stock valued at $1,515,000 after purchasing an additional 1,252 shares in the last quarter. American Century Companies Inc. lifted its stake in CorVel by 17.0% in the 1st quarter. American Century Companies Inc. now owns 1,361 shares of the business services provider’s stock valued at $229,000 after buying an additional 198 shares in the last quarter. Citigroup Inc. lifted its stake in CorVel by 4.1% in the 1st quarter. Citigroup Inc. now owns 9,072 shares of the business services provider’s stock valued at $1,528,000 after buying an additional 357 shares in the last quarter. MetLife Investment Management LLC grew its holdings 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 valued at $829,000 after buying an additional 1,759 shares during the last quarter. Finally, Rhumbline Advisers increased its position in CorVel by 4.1% during the first quarter. Rhumbline Advisers now owns 25,329 shares of the business services provider’s stock worth $4,266,000 after buying an additional 1,008 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CorVel

In related news, Director Jean Macino sold 3,130 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $253.42, for a total value of $793,204.60. Following the completion of the transaction, the director now directly owns 14,160 shares in the company, valued at $3,588,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jean Macino sold 3,130 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $253.42, for a total value of $793,204.60. Following the sale, the director now directly owns 14,160 shares of the company’s stock, valued at $3,588,427.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brandon O’brien sold 813 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $260.00, for a total transaction of $211,380.00. Following the completion of the sale, the chief financial officer now owns 7,299 shares of the company’s stock, valued at $1,897,740. The disclosure for this sale can be found here. Insiders have sold 16,043 shares of company stock worth $3,960,007 over the last quarter. 48.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th.

CorVel Price Performance

CorVel stock opened at $229.60 on Friday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 53.15 and a beta of 1.07. CorVel Co. has a 12-month low of $187.92 and a 12-month high of $265.14. The firm’s 50-day moving average is $245.33 and its two-hundred day moving average is $228.69.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share (EPS) for the quarter. The firm had revenue of $202.30 million for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%.

CorVel Profile

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.