American International Group Inc. Reduces Position in CorVel Co. (NASDAQ:CRVL)


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American International Group Inc. cut its position in CorVel Co. (NASDAQ:CRVL) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 5,938 shares of the business services provider’s stock after selling 210 shares during the quarter. American International Group Inc.’s holdings in CorVel were worth $629,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of CorVel by 4.0% in the 4th quarter. BlackRock Inc. now owns 1,511,994 shares of the business services provider’s stock valued at $160,272,000 after purchasing an additional 58,138 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of CorVel by 0.3% in the 4th quarter. Boston Trust Walden Corp now owns 344,630 shares of the business services provider’s stock valued at $36,531,000 after purchasing an additional 1,096 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CorVel by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 59,671 shares of the business services provider’s stock valued at $5,098,000 after purchasing an additional 804 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of CorVel by 13.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 53,927 shares of the business services provider’s stock valued at $4,607,000 after purchasing an additional 6,400 shares during the last quarter. Finally, FMR LLC increased its position in shares of CorVel by 92.6% in the 1st quarter. FMR LLC now owns 53,900 shares of the business services provider’s stock valued at $3,516,000 after purchasing an additional 25,918 shares during the last quarter. 47.88% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CRVL opened at $104.23 on Thursday. CorVel Co. has a 52 week low of $44.67 and a 52 week high of $111.42. The company’s 50 day moving average is $104.73 and its two-hundred day moving average is $98.13. The company has a market cap of $1.86 billion, a PE ratio of 46.32 and a beta of 0.87.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, February 2nd. The business services provider reported $0.63 EPS for the quarter. The firm had revenue of $141.51 million for the quarter. CorVel had a net margin of 7.36% and a return on equity of 21.07%.

In related news, major shareholder Corstar Holdings Inc sold 1,386 shares of the stock in a transaction on Monday, March 29th. The shares were sold at an average price of $106.15, for a total transaction of $147,123.90. Following the completion of the sale, the insider now owns 6,544,036 shares in the company, valued at approximately $694,649,421.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $109.28, for a total transaction of $109,280.00. Following the sale, the chief financial officer now owns 1,899 shares of the company’s stock, valued at approximately $207,522.72. The disclosure for this sale can be found here. Insiders sold a total of 103,034 shares of company stock worth $10,846,128 over the last ninety days. Insiders own 50.38% of the company’s stock.

CorVel Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. 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.

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Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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