Citizens Financial Group Inc. RI Has $614,000 Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Citizens Financial Group Inc. RI increased its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 128.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 400,000 shares of the company’s stock after acquiring an additional 225,000 shares during the period. Citizens Financial Group Inc. RI’s holdings in Porch Group were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRCH. Mackenzie Financial Corp boosted its holdings in Porch Group by 102.4% during the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after purchasing an additional 12,097 shares in the last quarter. Caprock Group LLC bought a new position in shares of Porch Group during the 3rd quarter worth approximately $37,000. SG Americas Securities LLC acquired a new stake in Porch Group in the 3rd quarter valued at $42,000. Alpine Global Management LLC bought a new stake in Porch Group in the first quarter valued at $43,000. Finally, Los Angeles Capital Management LLC acquired a new position in Porch Group during the third quarter worth $46,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Price Performance

PRCH stock opened at $3.45 on Friday. The company has a 50 day moving average price of $1.98 and a 200 day moving average price of $1.87. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $4.78. The stock has a market capitalization of $412.41 million, a PE ratio of -4.93 and a beta of 1.98.

Insider Activity

In related news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now owns 278,298 shares in the company, valued at $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PRCH shares. Craig Hallum boosted their target price on shares of Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Northland Securities decreased their price objective on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Stephens increased their price target on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Oppenheimer cut their price objective on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.18.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.