Principal Financial Group Inc. Sells 171,689 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Principal Financial Group Inc. lessened its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,610,628 shares of the company's stock after selling 171,689 shares during the quarter. Principal Financial Group Inc. owned about 1.22% of Life Time Group worth $78,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in shares of Life Time Group during the 1st quarter worth $422,000. Peregrine Capital Management LLC purchased a new stake in Life Time Group in the first quarter worth about $8,544,000. Amalgamated Bank lifted its stake in shares of Life Time Group by 42.3% in the first quarter. Amalgamated Bank now owns 2,898 shares of the company's stock worth $88,000 after buying an additional 862 shares in the last quarter. KBC Group NV bought a new position in Life Time Group during the first quarter valued at approximately $121,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Life Time Group during the first quarter valued at approximately $3,841,000. Institutional investors own 79.40% of the company's stock.

Insider Activity

In related news, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $28.80, for a total transaction of $3,866,313.60. Following the transaction, the executive vice president directly owned 133,189 shares of the company's stock, valued at approximately $3,835,843.20. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Danhakl sold 11,655,582 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.38, for a total transaction of $342,440,999.16. Following the sale, the director owned 29,898,037 shares in the company, valued at $878,404,327.06. The trade was a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,548,155 shares of company stock valued at $691,624,905. 8.70% of the stock is owned by corporate insiders.

Life Time Group Stock Up 0.1%

LTH stock traded up $0.03 during trading hours on Wednesday, hitting $29.40. The company's stock had a trading volume of 924,428 shares, compared to its average volume of 1,995,773. The company has a quick ratio of 0.31, a current ratio of 0.43 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.45 billion, a PE ratio of 30.63 and a beta of 1.74. Life Time Group Holdings, Inc. has a 12 month low of $18.60 and a 12 month high of $34.99. The stock has a 50 day moving average price of $29.27 and a two-hundred day moving average price of $29.05.

Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.12. Life Time Group had a net margin of 7.60% and a return on equity of 8.29%. The business had revenue of $706.04 million during the quarter, compared to analysts' expectations of $684.06 million. During the same quarter last year, the company posted $0.15 EPS. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities research analysts expect that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on LTH. BMO Capital Markets set a $28.00 price objective on shares of Life Time Group and gave the company a "hold" rating in a research report on Friday, March 14th. Guggenheim reiterated a "buy" rating and issued a $36.00 target price on shares of Life Time Group in a research note on Tuesday, June 24th. Craig Hallum upgraded shares of Life Time Group to a "buy" rating and set a $45.00 target price for the company in a research report on Friday, May 23rd. Finally, Morgan Stanley boosted their target price on shares of Life Time Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.92.

Life Time Group Company Profile

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.