PNC Financial Services Group Inc. Cuts Position in Privia Health Group, Inc. (NASDAQ:PRVA)

PNC Financial Services Group Inc. lowered its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,983 shares of the company’s stock after selling 684 shares during the period. PNC Financial Services Group Inc.’s holdings in Privia Health Group were worth $138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. lifted its position in Privia Health Group by 44.9% in the 4th quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock worth $75,000 after buying an additional 1,003 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Privia Health Group during the 4th quarter valued at $158,000. International Assets Investment Management LLC raised its position in Privia Health Group by 2,721.7% in the 4th quarter. International Assets Investment Management LLC now owns 7,139 shares of the company’s stock worth $164,000 after purchasing an additional 6,886 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Privia Health Group by 30.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,214 shares of the company’s stock worth $189,000 after purchasing an additional 1,928 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Privia Health Group by 32.1% in the fourth quarter. Assetmark Inc. now owns 9,754 shares of the company’s stock worth $225,000 after purchasing an additional 2,370 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Privia Health Group

In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $41,481.84. Following the sale, the executive vice president now owns 103,862 shares in the company, valued at $1,913,138.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Adam Boehler acquired 5,306 shares of Privia Health Group stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $16.50 per share, for a total transaction of $87,549.00. Following the purchase, the director now owns 5,773,158 shares in the company, valued at $95,257,107. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Bartrum sold 2,252 shares of Privia Health Group stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $41,481.84. Following the completion of the transaction, the executive vice president now directly owns 103,862 shares of the company’s stock, valued at $1,913,138.04. The disclosure for this sale can be found here. In the last three months, insiders acquired 293,235 shares of company stock valued at $4,745,481 and sold 45,457 shares valued at $827,810. 14.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on PRVA shares. Robert W. Baird initiated coverage on Privia Health Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $23.00 price objective on the stock. Barclays dropped their price objective on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, May 20th. Canaccord Genuity Group decreased their target price on shares of Privia Health Group from $37.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Baird R W raised shares of Privia Health Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.92.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA opened at $16.95 on Friday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 113.00, a P/E/G ratio of 2.69 and a beta of 0.78. The stock has a 50 day moving average price of $17.40 and a 200-day moving average price of $19.64. Privia Health Group, Inc. has a 52-week low of $15.92 and a 52-week high of $28.23.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The firm had revenue of $415.24 million during the quarter, compared to the consensus estimate of $435.07 million. On average, equities analysts forecast that Privia Health Group, Inc. will post 0.2 EPS for the current fiscal year.

About Privia Health Group

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.