Principal Financial Group Inc. Increases Stock Position in CorVel Corp. $CRVL

Principal Financial Group Inc. lifted its stake in CorVel Corp. (NASDAQ:CRVL) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,600 shares of the business services provider’s stock after acquiring an additional 13,938 shares during the quarter. Principal Financial Group Inc. owned 0.35% of CorVel worth $9,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new position in CorVel during the third quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new stake in CorVel during the 4th quarter valued at $33,000. Eagle Bay Advisors LLC bought a new position in shares of CorVel during the 4th quarter valued at $37,000. Rockefeller Capital Management L.P. lifted its holdings in shares of CorVel by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after buying an additional 230 shares during the period. Finally, Quarry LP boosted its stake in shares of CorVel by 218.6% in the 3rd quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after buying an additional 352 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Stock Performance

NASDAQ:CRVL opened at $59.86 on Friday. The stock has a 50-day simple moving average of $61.08 and a two-hundred day simple moving average of $58.45. The firm has a market capitalization of $3.05 billion, a PE ratio of 27.97 and a beta of 0.98. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $93.71.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, May 19th. The business services provider reported $0.61 EPS for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $248.55 million for the quarter.

Insider Buying and Selling

In other CorVel news, insider Maxim Shishin sold 2,250 shares of CorVel stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total transaction of $136,327.50. Following the transaction, the insider owned 7,050 shares of the company’s stock, valued at $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Yoss sold 1,999 shares of CorVel stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total transaction of $121,978.98. Following the transaction, the vice president directly owned 2,173 shares in the company, valued at $132,596.46. This represents a 47.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 13,249 shares of company stock valued at $807,126. 39.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings upgraded CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

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).