Principal Financial Group Inc. Sells 60,425 Shares of Privia Health Group, Inc. $PRVA

Principal Financial Group Inc. cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,744,213 shares of the company’s stock after selling 60,425 shares during the quarter. Principal Financial Group Inc.’s holdings in Privia Health Group were worth $68,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in Privia Health Group by 8.0% in the third quarter. Thrivent Financial for Lutherans now owns 83,229 shares of the company’s stock valued at $2,072,000 after buying an additional 6,130 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Privia Health Group by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after acquiring an additional 524 shares in the last quarter. Summit Global Investments boosted its holdings in shares of Privia Health Group by 273.9% during the 3rd quarter. Summit Global Investments now owns 33,677 shares of the company’s stock valued at $839,000 after acquiring an additional 24,670 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Privia Health Group during the 3rd quarter worth $4,487,000. Finally, Truist Financial Corp increased its holdings in Privia Health Group by 4.6% in the 3rd quarter. Truist Financial Corp now owns 17,634 shares of the company’s stock worth $439,000 after purchasing an additional 783 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Privia Health Group

In related news, Director Matthew Shawn Morris sold 13,647 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.01, for a total value of $341,311.47. Following the sale, the director owned 68,188 shares in the company, valued at $1,705,381.88. This represents a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Mountcastle sold 23,887 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the sale, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. This trade represents a 12.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.70% of the company’s stock.

Privia Health Group Price Performance

NASDAQ PRVA opened at $22.44 on Wednesday. The business has a 50 day simple moving average of $23.78 and a 200 day simple moving average of $23.21. The stock has a market capitalization of $2.76 billion, a P/E ratio of 172.63, a P/E/G ratio of 1.64 and a beta of 0.83. Privia Health Group, Inc. has a one year low of $18.77 and a one year high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.23. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The business had revenue of $580.42 million for the quarter, compared to analyst estimates of $494.98 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Privia Health Group’s revenue was up 32.5% on a year-over-year basis. Equities analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRVA. Wolfe Research set a $31.00 price target on Privia Health Group in a research note on Tuesday, January 6th. Royal Bank Of Canada began coverage on shares of Privia Health Group in a research report on Friday, January 9th. They set an “outperform” rating and a $31.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Privia Health Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Stephens reaffirmed an “overweight” rating and set a $32.00 price target on shares of Privia Health Group in a research note on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

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.