The Manufacturers Life Insurance Company Purchases New Stake in CorVel Corp. $CRVL

The Manufacturers Life Insurance Company acquired a new position in shares of CorVel Corp. (NASDAQ:CRVL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,894 shares of the business services provider’s stock, valued at approximately $931,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in CorVel by 12.5% in the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock valued at $5,739,000 after buying an additional 5,703 shares during the period. AQR Capital Management LLC boosted its position in shares of CorVel by 4.0% during the 1st quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock worth $2,964,000 after acquiring an additional 1,013 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of CorVel by 11.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock worth $425,000 after acquiring an additional 389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CorVel by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock valued at $1,774,000 after acquiring an additional 702 shares during the last quarter. Finally, Millennium Management LLC increased its stake in CorVel by 127.4% in the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock valued at $5,395,000 after acquiring an additional 26,990 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Insider Buying and Selling at CorVel

In other news, Director R. Jessup sold 4,023 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total transaction of $281,891.61. Following the completion of the transaction, the director owned 111,798 shares of the company’s stock, valued at approximately $7,833,685.86. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Michael sold 9,000 shares of CorVel stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following the transaction, the director owned 559,721 shares in the company, valued at approximately $34,131,786.58. This trade represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 20,197 shares of company stock valued at $1,315,568. Insiders own 39.72% of the company’s stock.

Wall Street Analyst Weigh In

CRVL has been the subject of several recent analyst reports. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings upgraded CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

CorVel Trading Down 0.7%

NASDAQ:CRVL opened at $68.23 on Friday. The stock’s 50-day moving average is $64.25 and its 200-day moving average is $58.99. CorVel Corp. has a 1-year low of $44.83 and a 1-year high of $93.45. The stock has a market cap of $3.48 billion, a P/E ratio of 30.32 and a beta of 0.97.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%. The business had revenue of $259.93 million during the quarter.

CorVel Profile

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).