Principal Financial Group Inc. Has $10.29 Million Stock Position in CorVel Co. (NASDAQ:CRVL)

Principal Financial Group Inc. decreased its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 53,150 shares of the business services provider’s stock after selling 2,591 shares during the period. Principal Financial Group Inc.’s holdings in CorVel were worth $10,285,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of CorVel by 1.9% during the 1st quarter. Arizona State Retirement System now owns 2,751 shares of the business services provider’s stock valued at $523,000 after acquiring an additional 50 shares during the period. Ellsworth Advisors LLC lifted its holdings in CorVel by 3.0% in the second quarter. Ellsworth Advisors LLC now owns 1,983 shares of the business services provider’s stock valued at $384,000 after buying an additional 57 shares during the period. Federated Hermes Inc. boosted its position in shares of CorVel by 14.2% during the 1st quarter. Federated Hermes Inc. now owns 532 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 66 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of CorVel by 0.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 8,137 shares of the business services provider’s stock worth $1,403,000 after buying an additional 70 shares during the period. Finally, Barclays PLC grew its stake in shares of CorVel by 2.1% in the 1st quarter. Barclays PLC now owns 4,438 shares of the business services provider’s stock valued at $844,000 after buying an additional 90 shares during the period. Institutional investors own 51.36% of the company’s stock.

Insider Transactions at CorVel

In other news, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $216.00, for a total value of $216,000.00. Following the completion of the sale, the chairman now owns 350,534 shares of the company’s stock, valued at approximately $75,715,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 17,021 shares of company stock worth $3,544,240. 48.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on CorVel in a research note on Thursday, October 5th. They set a “buy” rating for the company.

CorVel Price Performance

NASDAQ:CRVL opened at $213.96 on Tuesday. CorVel Co. has a 1 year low of $136.22 and a 1 year high of $228.94. The company has a market cap of $3.66 billion, a P/E ratio of 49.87 and a beta of 1.06. The stock’s fifty day moving average price is $199.26 and its two-hundred day moving average price is $203.63.

CorVel (NASDAQ:CRVL) last posted its earnings results on Monday, October 30th. The business services provider reported $1.15 earnings per share (EPS) for the quarter. The business had revenue of $195.52 million for the quarter. CorVel had a net margin of 9.95% and a return on equity of 36.16%.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.