The Manufacturers Life Insurance Company Purchases 9,785 Shares of CorVel Co. (NASDAQ:CRVL)

The Manufacturers Life Insurance Company raised its position in shares of CorVel Co. (NASDAQ:CRVL) by 192.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,867 shares of the business services provider’s stock after purchasing an additional 9,785 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CorVel were worth $1,654,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp lifted its position in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of CorVel during the 4th quarter valued at about $37,000. US Bancorp DE lifted its position in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after buying an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after buying an additional 275 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised CorVel from a “hold” rating to a “buy” rating in a research report on Friday, April 18th.

Insider Activity

In related news, Director Jeffrey J. Michael sold 16,523 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now directly owns 551,787 shares of the company’s stock, valued at approximately $64,553,561.13. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now directly owns 118,213 shares in the company, valued at approximately $13,758,811.07. This represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,723 shares of company stock valued at $4,522,340 in the last ninety days. Corporate insiders own 47.57% of the company’s stock.

CorVel Stock Up 0.3%

CRVL stock opened at $112.51 on Monday. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61. The stock has a market cap of $5.78 billion, a P/E ratio of 66.18 and a beta of 1.10. The business’s 50-day moving average price is $110.67 and its 200-day moving average price is $116.17.

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.