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

Principal Financial Group Inc. decreased its holdings in Privia Health Group, Inc. (NASDAQ:PRVA) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,744,213 shares of the company’s stock after selling 60,425 shares during the period. Principal Financial Group Inc. owned about 2.24% of Privia Health Group worth $68,331,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRVA. CWM LLC increased its holdings in shares of Privia Health Group by 89.4% during the 2nd quarter. CWM LLC now owns 3,416 shares of the company’s stock worth $79,000 after acquiring an additional 1,612 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in 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 valued at $85,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Inc. bought a new position in Privia Health Group during the second quarter worth $113,000. Covestor Ltd boosted its position in Privia Health Group by 39.8% during the third quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after purchasing an additional 1,657 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Privia Health Group in the first quarter valued at $154,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Stock Performance

NASDAQ:PRVA opened at $22.44 on Wednesday. The stock has a fifty day moving average price of $23.78 and a 200-day moving average price of $23.21. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 172.63, a PEG ratio of 1.64 and a beta of 0.83. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRVA. Barclays lifted their target price on shares of Privia Health Group from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Wolfe Research set a $31.00 price objective on Privia Health Group in a report on Tuesday, January 6th. Canaccord Genuity Group lifted their price target on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Citizens Jmp upped their price objective on Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Finally, Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, December 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Insider Buying and Selling

In other Privia Health Group news, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Mountcastle sold 23,887 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were 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 in the company, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.70% 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.