Franklin Resources Inc. Boosts Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

Franklin Resources Inc. raised its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,311,166 shares of the company’s stock after buying an additional 10,926 shares during the period. Franklin Resources Inc. owned about 1.09% of Privia Health Group worth $25,633,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of Privia Health Group by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 134,244 shares of the company’s stock worth $2,624,000 after purchasing an additional 1,900 shares in the last quarter. Schroder Investment Management Group grew its holdings in Privia Health Group by 2.6% during the fourth quarter. Schroder Investment Management Group now owns 210,833 shares of the company’s stock valued at $4,105,000 after purchasing an additional 5,326 shares during the period. Norges Bank purchased a new stake in Privia Health Group in the fourth quarter worth about $619,000. Loomis Sayles & Co. L P raised its stake in shares of Privia Health Group by 55.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company’s stock worth $27,727,000 after buying an additional 503,002 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Privia Health Group by 111.7% during the 4th quarter. JPMorgan Chase & Co. now owns 398,738 shares of the company’s stock valued at $7,795,000 after buying an additional 210,354 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRVA shares. Stephens restated an “overweight” rating and set a $26.00 target price on shares of Privia Health Group in a research note on Thursday, January 2nd. Canaccord Genuity Group raised their price objective on shares of Privia Health Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Privia Health Group in a report on Friday, March 21st. JMP Securities set a $29.00 price target on Privia Health Group in a report on Friday, February 28th. Finally, Piper Sandler upped their price objective on Privia Health Group from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Privia Health Group has an average rating of “Buy” and a consensus target price of $26.67.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $21.97 on Monday. The stock has a 50 day moving average price of $23.78 and a 200-day moving average price of $21.32. Privia Health Group, Inc. has a one year low of $15.92 and a one year high of $26.04. The company has a market capitalization of $2.65 billion, a P/E ratio of 219.72, a P/E/G ratio of 3.47 and a beta of 0.88.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 5,630 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total transaction of $125,999.40. Following the sale, the chief financial officer now directly owns 179,676 shares of the company’s stock, valued at $4,021,148.88. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.20% of the stock is owned by insiders.

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.