Principal Financial Group Inc. Boosts Stake in Life Time Group Holdings, Inc. $LTH

Principal Financial Group Inc. grew its position in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 18.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,589,462 shares of the company’s stock after acquiring an additional 397,248 shares during the period. Principal Financial Group Inc.’s holdings in Life Time Group were worth $69,760,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Life Time Group by 140.4% during the 1st quarter. Royal Bank of Canada now owns 54,380 shares of the company’s stock worth $1,642,000 after purchasing an additional 31,762 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Life Time Group by 25.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,855 shares of the company’s stock valued at $2,140,000 after buying an additional 14,267 shares during the period. Goldman Sachs Group Inc. lifted its position in Life Time Group by 143.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,422,304 shares of the company’s stock valued at $73,154,000 after buying an additional 1,428,446 shares in the last quarter. Caxton Associates LLP acquired a new position in Life Time Group during the first quarter valued at approximately $221,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Life Time Group by 47.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,287 shares of the company’s stock worth $6,018,000 after buying an additional 64,348 shares during the period. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LTH shares. Morgan Stanley increased their price objective on shares of Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Wells Fargo & Company upped their price target on shares of Life Time Group from $38.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim increased their price target on Life Time Group from $36.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 15th. Zacks Research lowered Life Time Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.73.

Insider Activity

In other news, major shareholder Partners Group Private Equity sold 329,921 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $28.60, for a total transaction of $9,435,740.60. Following the completion of the sale, the insider directly owned 1,651,322 shares in the company, valued at $47,227,809.20. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ritadhwaja Jebens Singh sold 67,751 shares of Life Time Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $38.65, for a total value of $2,618,576.15. Following the sale, the executive vice president directly owned 138,351 shares in the company, valued at approximately $5,347,266.15. The trade was a 32.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,943,861 shares of company stock worth $857,228,555 over the last three months. 13.30% of the stock is currently owned by corporate insiders.

Life Time Group Trading Up 2.1%

LTH opened at $42.87 on Friday. The firm has a market capitalization of $9.54 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.73 and a beta of 1.51. The firm’s 50 day moving average is $36.16 and its 200-day moving average is $30.68. Life Time Group Holdings, Inc. has a 52-week low of $24.14 and a 52-week high of $43.02. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46.

Life Time Group (NYSE:LTH) last posted its earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $788.70 million for the quarter, compared to analysts’ expectations of $787.65 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Analysts expect that Life Time Group Holdings, Inc. will post 1.48 EPS for the current fiscal year.

About Life Time Group

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.