Thrivent Financial for Lutherans Purchases 58,323 Shares of CorVel Corp. $CRVL

Thrivent Financial for Lutherans raised its position in CorVel Corp. (NASDAQ:CRVL) by 14.6% during the third quarter, Holdings Channel reports. The firm owned 458,326 shares of the business services provider’s stock after purchasing an additional 58,323 shares during the period. Thrivent Financial for Lutherans’ holdings in CorVel were worth $35,484,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in CorVel by 1.9% in the second quarter. State Street Corp now owns 1,093,710 shares of the business services provider’s stock valued at $112,412,000 after buying an additional 20,537 shares during the period. Geode Capital Management LLC raised its position in shares of CorVel by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 845,660 shares of the business services provider’s stock worth $86,925,000 after acquiring an additional 42,861 shares in the last quarter. Norges Bank acquired a new position in shares of CorVel in the 2nd quarter valued at about $34,418,000. Bank of New York Mellon Corp boosted its position in shares of CorVel by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 176,927 shares of the business services provider’s stock valued at $18,185,000 after purchasing an additional 4,001 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in CorVel by 68.8% during the third quarter. Assenagon Asset Management S.A. now owns 172,932 shares of the business services provider’s stock worth $13,388,000 after purchasing an additional 70,454 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CorVel in a research note on Friday, January 9th. Wall Street Zen lowered shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Insider Buying and Selling at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total value of $86,820.00. Following the transaction, the executive vice president directly owned 2,594 shares of the company’s stock, valued at approximately $187,675.90. This trade represents a 31.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 7,076 shares of CorVel stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $76.94, for a total transaction of $544,427.44. Following the transaction, the director owned 115,045 shares of the company’s stock, valued at $8,851,562.30. This represents a 5.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,733 shares of company stock worth $894,686. Corporate insiders own 44.56% of the company’s stock.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $69.75 on Tuesday. CorVel Corp. has a 52-week low of $65.47 and a 52-week high of $128.61. The business’s 50 day simple moving average is $69.70 and its two-hundred day simple moving average is $77.27. The firm has a market cap of $3.57 billion, a P/E ratio of 34.36 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last issued its earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. CorVel had a return on equity of 31.72% and a net margin of 11.28%.The company had revenue of $239.64 million for the quarter.

About CorVel

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).