Louisiana State Employees Retirement System Makes New Investment in Privia Health Group, Inc. (NASDAQ:PRVA)

Louisiana State Employees Retirement System acquired a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 51,400 shares of the company's stock, valued at approximately $1,184,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Privia Health Group by 0.5% during the third quarter. Vanguard Group Inc. now owns 11,003,989 shares of the company's stock valued at $253,092,000 after purchasing an additional 51,317 shares in the last quarter. Wellington Management Group LLP grew its position in Privia Health Group by 1.0% during the third quarter. Wellington Management Group LLP now owns 4,656,685 shares of the company's stock valued at $107,104,000 after purchasing an additional 45,639 shares in the last quarter. Riverbridge Partners LLC grew its position in Privia Health Group by 8.7% during the fourth quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company's stock valued at $100,005,000 after purchasing an additional 348,852 shares in the last quarter. Bank of New York Mellon Corp grew its position in Privia Health Group by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 4,040,027 shares of the company's stock worth $92,921,000 after acquiring an additional 62,543 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Privia Health Group by 3.3% in the third quarter. Principal Financial Group Inc. now owns 3,505,260 shares of the company's stock worth $80,621,000 after acquiring an additional 111,538 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Privia Health Group

In related news, Director William M. Sullivan sold 9,951 shares of the company's stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total transaction of $229,171.53. Following the completion of the transaction, the director now directly owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director William M. Sullivan sold 9,951 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Mountcastle sold 3,933 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the completion of the transaction, the chief financial officer now owns 262,279 shares of the company's stock, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. Corporate insiders own 14.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial decreased their target price on shares of Privia Health Group from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, February 29th. Canaccord Genuity Group decreased their target price on shares of Privia Health Group from $41.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, March 19th. Bank of America downgraded shares of Privia Health Group from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $27.00 to $21.00 in a research report on Thursday, February 22nd. JPMorgan Chase & Co. decreased their target price on shares of Privia Health Group from $38.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, March 6th. Finally, Citigroup started coverage on shares of Privia Health Group in a research report on Monday. They issued a "buy" rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.92.

Privia Health Group Trading Up 4.2 %

NASDAQ:PRVA traded up $0.75 during trading hours on Tuesday, hitting $18.80. 852,673 shares of the company traded hands, compared to its average volume of 956,833. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 98.95, a P/E/G ratio of 2.47 and a beta of 0.81. Privia Health Group, Inc. has a twelve month low of $17.54 and a twelve month high of $30.15. The firm has a 50-day moving average of $19.99 and a 200 day moving average of $21.33.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $440.80 million for the quarter, compared to analyst estimates of $425.81 million. Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. Privia Health Group's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. Equities research analysts predict that Privia Health Group, Inc. will post 0.26 earnings per share for the current fiscal year.

Privia Health Group Company 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.