CorVel Co. (NASDAQ:CRVL) Position Lessened by Comerica Bank

Comerica Bank reduced its stake in shares of CorVel Co. (NASDAQ:CRVL – Get Rating) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,300 shares of the business services provider’s stock after selling 890 shares during the quarter. Comerica Bank’s holdings in CorVel were worth $1,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its holdings in shares of CorVel by 2,449.9% during the third quarter. Raymond James & Associates now owns 42,787 shares of the business services provider’s stock valued at $5,923,000 after acquiring an additional 41,109 shares during the period. Ancora Advisors LLC grew its position in CorVel by 377.9% in the 1st quarter. Ancora Advisors LLC now owns 18,251 shares of the business services provider’s stock worth $1,872,000 after purchasing an additional 14,432 shares during the last quarter. Vanguard Group Inc. grew its position in CorVel by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,111,277 shares of the business services provider’s stock worth $187,184,000 after purchasing an additional 12,430 shares during the last quarter. State Street Corp boosted its position in shares of CorVel by 3.8% during the first quarter. State Street Corp now owns 318,373 shares of the business services provider’s stock worth $53,627,000 after buying an additional 11,548 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in CorVel by 3.2% in the 3rd quarter. Boston Trust Walden Corp now owns 246,040 shares of the business services provider’s stock worth $34,059,000 after buying an additional 7,639 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on CorVel in a research report on Wednesday, October 12th. They set a “buy” rating for the company.

Insiders Place Their Bets

In other news, Chairman V Gordon Clemons sold 1,066 shares of CorVel stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total transaction of $159,963.96. Following the transaction, the chairman now directly owns 430,534 shares in the company, valued at approximately $64,605,932.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman V Gordon Clemons sold 1,066 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total transaction of $159,963.96. Following the completion of the transaction, the chairman now owns 430,534 shares of the company’s stock, valued at $64,605,932.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark E. Bertels sold 750 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $153.00, for a total transaction of $114,750.00. Following the completion of the sale, the executive vice president now owns 850 shares in the company, valued at $130,050. The disclosure for this sale can be found here. Insiders sold 13,317 shares of company stock worth $2,032,034 over the last ninety days. Company insiders own 48.56% of the company’s stock.

CorVel Stock Down 0.6 %

CRVL stock opened at $163.70 on Wednesday. The company has a market capitalization of $2.83 billion, a P/E ratio of 45.22 and a beta of 1.00. The company has a 50-day simple moving average of $149.12 and a 200 day simple moving average of $152.58. CorVel Co. has a fifty-two week low of $129.19 and a fifty-two week high of $183.20.

CorVel (NASDAQ:CRVL – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The business services provider reported $0.83 earnings per share (EPS) for the quarter. CorVel had a net margin of 9.40% and a return on equity of 31.22%. The business had revenue of $177.43 million during the quarter.

CorVel Profile

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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.