Principal Financial Group Inc. Has $56.01 Million Stake in Privia Health Group, Inc. $PRVA

Principal Financial Group Inc. lowered its stake in Privia Health Group, Inc. (NASDAQ:PRVA) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,723,073 shares of the company’s stock after selling 64,729 shares during the quarter. Principal Financial Group Inc. owned approximately 2.17% of Privia Health Group worth $56,014,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after buying an additional 95,371 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Privia Health Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $916,000 after acquiring an additional 8,068 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after acquiring an additional 3,714 shares during the last quarter. Intech Investment Management LLC grew its position in Privia Health Group by 55.1% during the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after acquiring an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Privia Health Group in the 1st quarter worth about $154,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on PRVA shares. Zacks Research lowered Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Canaccord Genuity Group cut 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 report on Friday, May 8th. Barclays reduced their target price on shares of 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, Evercore set a $26.00 price target on shares of Privia Health Group in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.15.

Privia Health Group Trading Down 1.2%

Shares of PRVA stock opened at $26.90 on Friday. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 168.14, a PEG ratio of 2.15 and a beta of 0.83. The stock has a 50-day moving average of $24.12 and a 200-day moving average of $23.27. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $28.82.

Insider Buying and Selling at Privia Health Group

In other news, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the completion of the sale, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total transaction of $354,248.08. Following the sale, the chief executive officer owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This trade represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 478,855 shares of company stock valued at $12,099,109. 5.70% of the stock is currently owned by company insiders.

About Privia Health Group

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.