Assenagon Asset Management S.A. Has $21.89 Million Holdings in CorVel Co. (NASDAQ:CRVL)

Assenagon Asset Management S.A. trimmed its holdings in CorVel Co. (NASDAQ:CRVL) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,531 shares of the business services provider’s stock after selling 5,784 shares during the period. Assenagon Asset Management S.A. owned about 0.52% of CorVel worth $21,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of CorVel by 16.2% in the first quarter. JPMorgan Chase & Co. now owns 8,993 shares of the business services provider’s stock valued at $1,515,000 after buying an additional 1,252 shares during the last quarter. American Century Companies Inc. increased its stake in shares of CorVel by 17.0% during the first quarter. American Century Companies Inc. now owns 1,361 shares of the business services provider’s stock worth $229,000 after purchasing an additional 198 shares during the period. Citigroup Inc. increased its stake in shares of CorVel by 4.1% during the first quarter. Citigroup Inc. now owns 9,072 shares of the business services provider’s stock worth $1,528,000 after purchasing an additional 357 shares during the period. MetLife Investment Management LLC increased its stake in shares of CorVel by 55.6% during the first quarter. MetLife Investment Management LLC now owns 4,921 shares of the business services provider’s stock worth $829,000 after purchasing an additional 1,759 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of CorVel by 4.1% during the first quarter. Rhumbline Advisers now owns 25,329 shares of the business services provider’s stock worth $4,266,000 after purchasing an additional 1,008 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.41, for a total transaction of $359,115.00. Following the transaction, the vice president now directly owns 512 shares of the company’s stock, valued at approximately $122,577.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman V Gordon Clemons sold 3,000 shares of CorVel stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.70, for a total value of $719,100.00. Following the completion of the transaction, the chairman now directly owns 315,534 shares of the company’s stock, valued at approximately $75,633,499.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.41, for a total value of $359,115.00. Following the completion of the transaction, the vice president now directly owns 512 shares of the company’s stock, valued at $122,577.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,043 shares of company stock valued at $3,960,007. 48.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th.

CorVel Stock Performance

Shares of CRVL opened at $258.61 on Thursday. CorVel Co. has a 52-week low of $187.34 and a 52-week high of $265.14. The business’s fifty day moving average is $242.50 and its 200-day moving average is $223.70. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 59.86 and a beta of 1.07.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%. The company had revenue of $202.30 million for the quarter.

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.