The Manufacturers Life Insurance Company Acquires Shares of 58,420 Privia Health Group, Inc. $PRVA

The Manufacturers Life Insurance Company bought a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 58,420 shares of the company’s stock, valued at approximately $1,503,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRVA. Bayban purchased a new stake in shares of Privia Health Group during the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. boosted its position in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC grew its stake in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after purchasing an additional 1,351 shares during the period. Allworth Financial LP bought a new position in Privia Health Group in the 2nd quarter valued at $48,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Privia Health Group during the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity

In other news, CFO David Mountcastle sold 24,734 shares of Privia Health Group stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the completion of the transaction, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. This trade represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 88,110 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the completion of the sale, the director directly owned 76,651 shares in the company, valued at approximately $1,941,569.83. This trade represents a 53.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 327,886 shares of company stock valued at $8,628,256 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Privia Health Group Price Performance

Shares of NASDAQ PRVA opened at $20.67 on Friday. The stock has a market capitalization of $2.64 billion, a PE ratio of 98.43, a P/E/G ratio of 1.63 and a beta of 0.87. Privia Health Group, Inc. has a one year low of $19.53 and a one year high of $28.82. The business’s fifty day moving average price is $24.06 and its 200-day moving average price is $23.16.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The company had revenue of $632.63 million during 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 firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. As a group, equities analysts expect that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRVA. Barclays lowered their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a report on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Finally, 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. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Privia Health Group presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Privia Health Group Company 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.