Thrivent Financial for Lutherans Raises Stock Position in CorVel Co. (NASDAQ:CRVL)

Thrivent Financial for Lutherans lifted its stake in CorVel Co. (NASDAQ:CRVL) by 195.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,048 shares of the business services provider’s stock after purchasing an additional 13,918 shares during the period. Thrivent Financial for Lutherans’ holdings in CorVel were worth $2,342,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CRVL. Fifth Third Bancorp lifted its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp bought a new position in shares of CorVel in the 4th quarter worth approximately $37,000. US Bancorp DE lifted its stake in shares of CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC lifted its stake in shares of CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 275 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of CorVel by 216.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 364 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey J. Michael sold 10,477 shares of CorVel 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 completion of the transaction, the director now owns 568,310 shares of the company’s stock, valued at $66,179,699.50. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Hoops sold 10,200 shares of the stock in a transaction dated 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 sale, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

CorVel Price Performance

Shares of NASDAQ CRVL opened at $111.95 on Friday. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The firm has a 50-day moving average of $112.20 and a 200 day moving average of $114.34. The stock has a market cap of $5.75 billion, a P/E ratio of 65.85 and a beta of 1.06.

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

CorVel Company Profile

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.