Principal Financial Group Inc. Sells 102,407 Shares of Trupanion, Inc. $TRUP

Key Points

• Principal Financial Group cut its Trupanion stake by 38.2%, selling 102,407 shares during the first quarter and retaining 165,796 shares worth approximately $4.25 million.
• Analyst sentiment remains mixed but leans positive: Trupanion has a “Moderate Buy” consensus rating and an average price target of $41.60, despite several recent target reductions.
• Trupanion reported stronger-than-expected quarterly results, with EPS of $0.11 versus a $0.07 estimate and revenue of $384.05 million, up 12.3% year over year. Shares recently traded at $25.50, near the lower end of their 52-week range.

Principal Financial Group Inc. lowered its holdings in Trupanion, Inc. (NASDAQ:TRUP - Free Report) by 38.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,796 shares of the financial services provider's stock after selling 102,407 shares during the quarter. Principal Financial Group Inc. owned 0.38% of Trupanion worth $4,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Trupanion by 60.6% in the 1st quarter. Royal Bank of Canada now owns 29,763 shares of the financial services provider's stock worth $1,109,000 after buying an additional 11,233 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Trupanion by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,603 shares of the financial services provider's stock valued at $731,000 after acquiring an additional 858 shares during the period. Millennium Management LLC lifted its stake in Trupanion by 73.5% during the 1st quarter. Millennium Management LLC now owns 267,976 shares of the financial services provider's stock valued at $9,987,000 after acquiring an additional 113,490 shares during the period. Invesco Ltd. boosted its holdings in shares of Trupanion by 35.1% during the 2nd quarter. Invesco Ltd. now owns 187,749 shares of the financial services provider's stock valued at $10,392,000 after acquiring an additional 48,781 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in shares of Trupanion during the 2nd quarter valued at about $249,000.

Analyst Ratings Changes

A number of analysts have recently commented on TRUP shares. Bank of America reduced their price target on shares of Trupanion from $63.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Cantor Fitzgerald dropped their target price on shares of Trupanion from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Trupanion in a research report on Monday, June 1st. Stifel Nicolaus set a $28.00 target price on shares of Trupanion in a research report on Friday, June 26th. Finally, Atlantic Securities set a $42.00 target price on shares of Trupanion in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.60.

Trupanion Trading Up 2.5%

Shares of NASDAQ:TRUP opened at $25.50 on Wednesday. The stock's 50-day simple moving average is $24.14 and its two-hundred day simple moving average is $26.64. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 43.22 and a beta of 1.39. Trupanion, Inc. has a 52-week low of $21.16 and a 52-week high of $57.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.73 and a current ratio of 1.73.

Trupanion (NASDAQ:TRUP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Trupanion had a net margin of 1.74% and a return on equity of 6.87%. The firm had revenue of $384.05 million during the quarter, compared to analyst estimates of $379.77 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts expect that Trupanion, Inc. will post 0.55 EPS for the current year.

Insider Activity at Trupanion

In other Trupanion news, CFO Fawwad Qureshi sold 6,177 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $22.18, for a total transaction of $137,005.86. Following the completion of the sale, the chief financial officer directly owned 2,081 shares of the company's stock, valued at approximately $46,156.58. This represents a 74.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John R. Gallagher sold 3,603 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $21.69, for a total transaction of $78,149.07. Following the completion of the transaction, the chief operating officer owned 33,065 shares in the company, valued at $717,179.85. The trade was a 9.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 17,376 shares of company stock worth $383,642. 5.58% of the stock is owned by company insiders.

Trupanion Company Profile

Trupanion, Inc is a pet medical insurance company that provides comprehensive insurance coverage for cats and dogs. The company's core offering is a single, customizable medical policy designed to cover veterinary diagnostic tests, surgeries, hospital stays and congenital or hereditary conditions. Trupanion seeks to streamline the claims process by offering direct payment options to participating veterinarians, reducing the need for upfront payments by pet owners.

Founded in 1999 by Darryl Rawlings and headquartered in Seattle, Washington, Trupanion began operations in the early 2000s and has grown its presence through both digital channels and partnerships with veterinary hospitals.

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