Principal Financial Group Inc. Purchases 87,032 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,196,551 shares of the company’s stock after purchasing an additional 87,032 shares during the period. Principal Financial Group Inc. owned 3.12% of Live Nation Entertainment worth $787,950,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LYV. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $748,000. CANADA LIFE ASSURANCE Co raised its position in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after acquiring an additional 18,931 shares in the last quarter. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $3,985,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $126.01 on Thursday. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $127.64. The stock has a fifty day moving average price of $108.45 and a 200-day moving average price of $98.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $29.02 billion, a PE ratio of 118.88, a P/E/G ratio of 2.81 and a beta of 1.33.

Insider Activity

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,000 shares of company stock valued at $17,238,181. Company insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LYV. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Benchmark restated a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $124.73.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.