Prudential Financial Inc. Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

Prudential Financial Inc. increased its holdings in CorVel Co. (NASDAQ:CRVL) by 176.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 90,468 shares of the business services provider’s stock after acquiring an additional 57,795 shares during the period. Prudential Financial Inc. owned approximately 0.18% of CorVel worth $10,065,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its position in CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after buying an additional 112 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in CorVel in the 3rd quarter valued at approximately $88,000. Fifth Third Bancorp increased its holdings in CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in CorVel in the fourth quarter valued at approximately $37,000. Finally, US Bancorp DE lifted its stake in CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the completion of the sale, the director now owns 118,213 shares in the company, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now directly owns 568,310 shares in the company, valued at approximately $66,179,699.50. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,200 shares of company stock worth $3,824,115. Corporate insiders own 47.57% of the company’s stock.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $111.36 on Friday. The firm has a market capitalization of $5.72 billion, a PE ratio of 65.51 and a beta of 1.06. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The firm’s 50-day moving average is $112.25 and its two-hundred day moving average is $114.42.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a report on Thursday, March 13th.

About CorVel

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.