Principal Financial Group Inc. Acquires 13,938 Shares of CorVel Corp. $CRVL

Principal Financial Group Inc. grew its holdings in CorVel Corp. (NASDAQ:CRVL) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,600 shares of the business services provider’s stock after acquiring an additional 13,938 shares during the period. Principal Financial Group Inc.’s holdings in CorVel were worth $9,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada raised its stake in CorVel by 12.5% during the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock valued at $5,739,000 after purchasing an additional 5,703 shares during the period. AQR Capital Management LLC grew its holdings in CorVel by 4.0% during the 1st quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock valued at $2,964,000 after buying an additional 1,013 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in CorVel by 11.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock valued at $425,000 after buying an additional 389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CorVel by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock valued at $1,774,000 after buying an additional 702 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of CorVel by 127.4% during the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock valued at $5,395,000 after buying an additional 26,990 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

CRVL has been the subject of a number of research reports. Weiss Ratings upgraded shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

CorVel Stock Performance

CRVL stock opened at $59.86 on Friday. The firm has a fifty day moving average price of $61.08 and a 200 day moving average price of $58.45. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $93.71. The firm has a market cap of $3.05 billion, a PE ratio of 27.97 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, May 19th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. CorVel had a net margin of 11.51% and a return on equity of 29.92%. The company had revenue of $248.55 million for the quarter.

Insider Transactions at CorVel

In related news, insider Maxim Shishin sold 2,250 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the transaction, the insider owned 7,050 shares of the company’s stock, valued at approximately $427,159.50. This trade represents a 24.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Yoss sold 1,999 shares of CorVel stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the completion of the transaction, the vice president owned 2,173 shares of the company’s stock, valued at approximately $132,596.46. This represents a 47.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,249 shares of company stock worth $807,126 in the last three months. Insiders own 39.72% of the company’s stock.

CorVel Profile

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).