Piedmont Investment Advisors LLC Purchases Shares of 2,235 CorVel Co. (CRVL)
Piedmont Investment Advisors LLC purchased a new position in shares of CorVel Co. (NASDAQ:CRVL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,235 shares of the business services provider’s stock, valued at approximately $121,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in CorVel by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 791,983 shares of the business services provider’s stock worth $40,035,000 after acquiring an additional 2,156 shares in the last quarter. Barclays PLC boosted its holdings in shares of CorVel by 60.8% in the 1st quarter. Barclays PLC now owns 6,231 shares of the business services provider’s stock valued at $315,000 after buying an additional 2,355 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CorVel by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 77,515 shares of the business services provider’s stock valued at $3,918,000 after buying an additional 2,363 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of CorVel by 3.3% in the 4th quarter. Millennium Management LLC now owns 75,249 shares of the business services provider’s stock valued at $3,981,000 after buying an additional 2,370 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of CorVel by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 15,795 shares of the business services provider’s stock valued at $836,000 after buying an additional 3,198 shares in the last quarter. Institutional investors own 43.87% of the company’s stock.
In other news, major shareholder Corstar Holdings Inc sold 2,009 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $52.09, for a total value of $104,648.81. Following the completion of the transaction, the insider now owns 7,174,124 shares in the company, valued at approximately $373,700,119.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman V Gordon Clemons sold 5,000 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $50.51, for a total transaction of $252,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,765 shares of company stock valued at $6,283,481. Company insiders own 51.40% of the company’s stock.
CorVel (NASDAQ:CRVL) last issued its earnings results on Tuesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter. CorVel had a net margin of 6.78% and a return on equity of 23.42%. The business had revenue of $150.40 million during the quarter.
Separately, BidaskClub cut shares of CorVel from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 9th.
CorVel Company Profile
CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.
Further Reading: Understanding Stock Ratings
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