Voya Investment Management LLC has expanded its position in CorVel Corporation (NASDAQ: CRVL), according to the company’s latest 13F filing with the SEC.

During the fourth quarter, Voya increased its holdings in CorVel by 177%, acquiring an additional 5,136 shares. This brings its total ownership to 8,037 shares, valued at approximately $894,000 at the end of the reporting period.

CorVel is a provider of technology-driven risk management and healthcare solutions, primarily focused on workers’ compensation and claims processing. The company integrates artificial intelligence and data analytics into its services to improve cost efficiency and care outcomes for its clients.

While Voya has not publicly commented on the acquisition, the substantial increase in holdings suggests a favorable institutional outlook on CorVel’s operational model and market position. Voya Investment Management is known for its data-driven investment strategies and consistent monitoring of small- to mid-cap companies with strong fundamentals.

This move follows increased institutional interest in CorVel during the fourth quarter, with several other hedge funds and asset managers also adjusting their positions. As of the latest figures, institutional investors own more than 51% of CorVel’s outstanding shares.

CorVel’s stock opened at $111.00 on the day of the announcement, with a market cap of approximately $5.70 billion and a P/E ratio of 65.29. Its recent earnings report in February showed $0.46 earnings per share, with the company maintaining a return on equity above 30%

As the risk management and health service industries continue to evolve with technology integration, institutional investments such as Voya’s reflect ongoing interest in companies that leverage AI and analytics for operational efficiencies.