Fifth Third Bancorp Buys 34,817 Shares of Privia Health Group, Inc. $PRVA

Fifth Third Bancorp lifted its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 1,047.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,142 shares of the company’s stock after purchasing an additional 34,817 shares during the quarter. Fifth Third Bancorp’s holdings in Privia Health Group were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PRVA. Bayban acquired a new position in Privia Health Group during the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. increased its stake in shares of Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after buying an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Privia Health Group during the 4th quarter worth $93,000. 94.48% of the stock is owned by institutional investors.

Privia Health Group Stock Down 3.3%

Shares of Privia Health Group stock opened at $24.67 on Tuesday. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $28.82. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 154.20, a P/E/G ratio of 2.02 and a beta of 0.83. The company’s fifty day moving average is $24.42 and its 200 day moving average is $23.33.

Analyst Ratings Changes

A number of analysts have weighed in on PRVA shares. Canaccord Genuity Group decreased their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a report on Thursday. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Barclays reduced their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Finally, Zacks Research downgraded Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Insider Buying and Selling

In other Privia Health Group news, CEO Parth Mehrotra sold 105,439 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.55, for a total value of $2,377,649.45. Following the sale, the chief executive officer owned 450,004 shares in the company, valued at approximately $10,147,590.20. The trade was a 18.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 88,110 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the sale, the director directly owned 76,651 shares of the company’s stock, valued at approximately $1,941,569.83. The trade was a 53.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 478,855 shares of company stock valued at $12,099,109 in the last three months. Insiders own 5.70% of the company’s stock.

Privia Health Group Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.