Royal Bank of Canada Buys 10,957 Shares of CorVel Corp. $CRVL

Royal Bank of Canada increased its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 24.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,134 shares of the business services provider’s stock after buying an additional 10,957 shares during the period. Royal Bank of Canada owned about 0.11% of CorVel worth $3,013,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock valued at $1,640,000 after acquiring an additional 115 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of CorVel by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock worth $1,636,000 after purchasing an additional 139 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of CorVel by 6.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,843 shares of the business services provider’s stock worth $260,000 after purchasing an additional 218 shares during the period. Rockefeller Capital Management L.P. lifted its stake in CorVel by 66.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 230 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in CorVel by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 74,775 shares of the business services provider’s stock valued at $7,685,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Insider Transactions at CorVel

In related news, VP Jennifer Yoss sold 1,999 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the sale, the vice president directly owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the sale, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. This trade represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,249 shares of company stock valued at $807,126 over the last three months. Company insiders own 39.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CorVel Stock Up 2.0%

NASDAQ CRVL opened at $65.73 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 29.21 and a beta of 0.98. The company’s 50 day moving average is $61.43 and its 200-day moving average is $57.64. CorVel Corp. has a 12-month low of $44.83 and a 12-month high of $93.71.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 EPS for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%. The company had revenue of $259.93 million during the quarter.

About CorVel

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).