Principal Financial Group Inc. Cuts Stake in Life Time Group Holdings, Inc. (NYSE:LTH)

Principal Financial Group Inc. decreased its position in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,610,628 shares of the company's stock after selling 171,689 shares during the period. Principal Financial Group Inc. owned about 1.22% of Life Time Group worth $78,841,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Life Time Group by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 219,915 shares of the company's stock valued at $4,865,000 after buying an additional 788 shares during the period. Smartleaf Asset Management LLC purchased a new position in shares of Life Time Group in the fourth quarter worth about $115,000. SBI Securities Co. Ltd. purchased a new position in Life Time Group in the 4th quarter valued at approximately $88,000. Charles Schwab Investment Management Inc. lifted its position in shares of Life Time Group by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,371 shares of the company's stock worth $13,324,000 after acquiring an additional 15,530 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Life Time Group by 155.8% in the fourth quarter. Victory Capital Management Inc. now owns 66,784 shares of the company's stock valued at $1,477,000 after purchasing an additional 40,671 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company's stock.

Insider Transactions at Life Time Group

In other news, EVP Parham Javaheri sold 84,744 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $27.84, for a total transaction of $2,359,272.96. Following the completion of the transaction, the executive vice president directly owned 249,526 shares of the company's stock, valued at approximately $6,946,803.84. This represents a 25.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Kristofer Galashan sold 11,655,582 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.38, for a total value of $342,440,999.16. Following the completion of the sale, the director directly 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 have sold 23,548,155 shares of company stock valued at $691,624,905. 8.70% of the stock is currently owned by insiders.

Life Time Group Price Performance

NYSE:LTH traded down $0.04 during mid-day trading on Monday, reaching $29.19. The stock had a trading volume of 2,194,681 shares, compared to its average volume of 1,991,939. The firm has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $29.00. The stock has a market capitalization of $6.40 billion, a P/E ratio of 29.83 and a beta of 1.74. Life Time Group Holdings, Inc. has a one year low of $18.60 and a one year high of $34.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.43.

Life Time Group (NYSE:LTH - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.12. The company had revenue of $706.04 million during the quarter, compared to the consensus estimate of $684.06 million. Life Time Group had a return on equity of 8.29% and a net margin of 7.60%. Life Time Group's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, 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 analysts have commented on LTH shares. BMO Capital Markets set a $28.00 target price on Life Time Group and gave the stock a "hold" rating in a research note on Friday, March 14th. Guggenheim reaffirmed a "buy" rating and set a $36.00 price objective on shares of Life Time Group in a research note on Tuesday, June 24th. Morgan Stanley boosted their price objective on shares of Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Craig Hallum raised shares of Life Time Group to a "buy" rating and set a $45.00 price target on the stock in a report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.92.

Life Time Group 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.