Principal Financial Group Inc. Buys 46,710 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Principal Financial Group Inc. boosted its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,646,372 shares of the company’s stock after purchasing an additional 46,710 shares during the period. Principal Financial Group Inc.’s holdings in Life Time Group were worth $89,045,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LTH. Amalgamated Bank lifted its holdings in shares of Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock worth $38,000 after buying an additional 563 shares during the period. Farther Finance Advisors LLC lifted its stake in Life Time Group by 105.8% in the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after acquiring an additional 906 shares during the period. Assetmark Inc. grew its holdings in Life Time Group by 8.5% during the 3rd quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock worth $294,000 after acquiring an additional 941 shares in the last quarter. GSA Capital Partners LLP increased its position in Life Time Group by 2.2% during the 3rd quarter. GSA Capital Partners LLP now owns 93,872 shares of the company’s stock valued at $2,292,000 after purchasing an additional 1,987 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Life Time Group by 345.5% in the 3rd quarter. Blue Trust Inc. now owns 2,940 shares of the company’s stock valued at $72,000 after purchasing an additional 2,280 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LTH. Northland Securities increased their price objective on shares of Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Evercore ISI began coverage on Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price target on the stock. Bank of America upped their price objective on Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on Life Time Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley increased their price target on shares of Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Life Time Group presently has an average rating of “Moderate Buy” and an average target price of $27.89.

Insider Activity at Life Time Group

In related news, CFO Erik Weaver sold 4,662 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the transaction, the chief financial officer now owns 75,866 shares in the company, valued at approximately $1,963,412.08. This represents a 5.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Parham Javaheri sold 168,000 shares of Life Time Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the sale, the executive vice president now owns 243,938 shares of the company’s stock, valued at approximately $5,993,556.66. The trade was a 40.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Life Time Group Price Performance

Shares of LTH stock opened at $22.31 on Friday. Life Time Group Holdings, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $27.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.49 and a beta of 1.88. The stock’s 50-day simple moving average is $24.00 and its 200-day simple moving average is $22.59.

Life Time Group (NYSE:LTH) last released its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, equities analysts forecast that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

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.