Principal Financial Group Inc. Buys 18,788 Shares of MetLife, Inc. (NYSE:MET)

Principal Financial Group Inc. raised its stake in shares of MetLife, Inc. (NYSE:MET) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,565 shares of the financial services provider’s stock after acquiring an additional 18,788 shares during the period. Principal Financial Group Inc. owned about 0.10% of MetLife worth $55,308,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MET. AMG National Trust Bank purchased a new stake in MetLife in the 2nd quarter valued at about $205,000. Cambridge Investment Research Advisors Inc. lifted its holdings in MetLife by 12.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 92,596 shares of the financial services provider’s stock worth $6,499,000 after acquiring an additional 10,057 shares during the period. Atomi Financial Group Inc. boosted its position in MetLife by 30.0% in the second quarter. Atomi Financial Group Inc. now owns 4,217 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 974 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in MetLife by 0.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,063,607 shares of the financial services provider’s stock valued at $144,845,000 after purchasing an additional 16,985 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in shares of MetLife by 2.8% during the 2nd quarter. Checchi Capital Advisers LLC now owns 7,193 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MET stock opened at $81.36 on Monday. The firm has a 50 day moving average of $83.45 and a 200-day moving average of $77.72. The firm has a market capitalization of $56.34 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06. MetLife, Inc. has a 12 month low of $64.61 and a 12 month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.545 per share. The ex-dividend date was Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.68%. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MET. Jefferies Financial Group boosted their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays reduced their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler increased their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, TD Cowen boosted their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MetLife has a consensus rating of “Buy” and an average price target of $88.62.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.