Principal Financial Group Inc. Acquires 235,316 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

Principal Financial Group Inc. boosted its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 6.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,116,766 shares of the company’s stock after buying an additional 235,316 shares during the quarter. Principal Financial Group Inc.’s holdings in LifeStance Health Group were worth $28,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of LifeStance Health Group by 27.0% during the second quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock worth $71,000 after purchasing an additional 3,063 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of LifeStance Health Group by 31.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,105 shares of the company’s stock worth $169,000 after purchasing an additional 5,767 shares during the period. Arizona State Retirement System boosted its stake in shares of LifeStance Health Group by 22.9% during the 2nd quarter. Arizona State Retirement System now owns 31,972 shares of the company’s stock valued at $157,000 after purchasing an additional 5,959 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of LifeStance Health Group by 10.5% during the third quarter. The Manufacturers Life Insurance Company now owns 81,741 shares of the company’s stock valued at $572,000 after buying an additional 7,798 shares during the period. Finally, MetLife Investment Management LLC raised its stake in LifeStance Health Group by 14.3% in the third quarter. MetLife Investment Management LLC now owns 80,422 shares of the company’s stock worth $563,000 after buying an additional 10,084 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

Insider Activity at LifeStance Health Group

In other LifeStance Health Group news, Director Robert Bessler sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $7.54, for a total value of $565,500.00. Following the completion of the sale, the director now owns 1,424,447 shares of the company’s stock, valued at $10,740,330.38. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LFST. The Goldman Sachs Group upgraded LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, December 16th. Barclays boosted their price objective on shares of LifeStance Health Group from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.70.

LifeStance Health Group Price Performance

Shares of LifeStance Health Group stock opened at $7.29 on Wednesday. The stock’s fifty day moving average is $7.22 and its 200 day moving average is $6.42. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.19. LifeStance Health Group, Inc. has a one year low of $4.64 and a one year high of $9.20.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. LifeStance Health Group had a negative return on equity of 6.66% and a negative net margin of 7.90%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post -0.2 EPS for the current fiscal year.

LifeStance Health Group Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.