Principal Financial Group Inc. Has $59.23 Million Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Principal Financial Group Inc. lessened its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,252,337 shares of the company's stock after selling 84,342 shares during the period. Principal Financial Group Inc. owned 2.72% of Privia Health Group worth $59,225,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PRVA. First Light Asset Management LLC purchased a new stake in shares of Privia Health Group in the first quarter worth $21,620,000. Millennium Management LLC lifted its holdings in shares of Privia Health Group by 2,994.2% during the 2nd quarter. Millennium Management LLC now owns 1,138,526 shares of the company's stock worth $19,788,000 after acquiring an additional 1,101,730 shares during the period. BlackBarn Capital Partners LP boosted its stake in Privia Health Group by 100.0% in the second quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company's stock valued at $6,952,000 after acquiring an additional 200,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Privia Health Group by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company's stock worth $19,441,000 after purchasing an additional 173,934 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Privia Health Group by 50.7% in the 1st quarter. Sei Investments Co. now owns 457,880 shares of the company's stock worth $8,970,000 after buying an additional 154,044 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Insider Buying and Selling

In related news, CEO Parth Mehrotra sold 135,142 shares of Privia Health Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the completion of the sale, the chief executive officer now directly owns 247,771 shares in the company, valued at $4,583,763.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 14.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Monday, August 26th. Truist Financial upped their target price on shares of Privia Health Group from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp started coverage on Privia Health Group in a report on Friday, October 11th. They issued an "overweight" rating and a $23.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Finally, Barclays lifted their price target on shares of Privia Health Group from $19.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $25.07.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded down $1.23 during trading on Friday, reaching $21.30. The company had a trading volume of 1,626,234 shares, compared to its average volume of 903,964. The firm has a market capitalization of $2.55 billion, a PE ratio of 213.02, a price-to-earnings-growth ratio of 4.84 and a beta of 0.76. Privia Health Group, Inc. has a twelve month low of $15.92 and a twelve month high of $24.35. The firm's fifty day moving average is $18.43 and its 200 day moving average is $18.36.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The company had revenue of $422.30 million for the quarter, compared to analyst estimates of $411.50 million. Privia Health Group had a return on equity of 2.02% and a net margin of 0.75%. Privia Health Group's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. Equities analysts predict that Privia Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Privia Health Group Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.