Legal & General Group Plc Takes $6.61 Million Position in Privia Health Group, Inc. $PRVA

Legal & General Group Plc acquired a new position in Privia Health Group, Inc. (NASDAQ:PRVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 256,706 shares of the company’s stock, valued at approximately $6,605,000. Legal & General Group Plc owned approximately 0.20% of Privia Health Group as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRVA. BlackRock Inc. purchased a new position in shares of Privia Health Group in the 2nd quarter valued at $550,684,000. Durable Capital Partners LP raised its position in shares of Privia Health Group by 1.8% in the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after acquiring an additional 203,842 shares in the last quarter. State Street Corp lifted its stake in shares of Privia Health Group by 1.5% during the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company’s stock worth $95,935,000 after purchasing an additional 61,853 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Privia Health Group by 5.4% during the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock worth $83,371,000 after purchasing an additional 208,787 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Privia Health Group during the second quarter valued at about $74,425,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Stock Performance

Privia Health Group stock opened at $20.72 on Thursday. The stock has a market cap of $2.65 billion, a PE ratio of 98.67, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. The stock has a 50-day moving average of $24.14 and a two-hundred day moving average of $23.17. Privia Health Group, Inc. has a one year low of $19.53 and a one year high of $28.82.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, sell-side analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on PRVA. Barclays reduced their target price on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Finally, Canaccord Genuity Group set a $32.00 target price on shares of Privia Health Group in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Privia Health Group currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Activity at Privia Health Group

In other news, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group 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 approximately $1,857,441.12. The trade was a 44.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $27.67, for a total transaction of $588,679.25. Following the sale, the chief financial officer directly owned 164,853 shares in the company, valued at $4,561,482.51. This trade represents a 11.43% 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. In the last three months, insiders have sold 327,886 shares of company stock worth $8,628,256. 5.70% of the stock is owned by 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.