Principal Financial Group Inc. Has $45.46 Million Holdings in MetLife, Inc. $MET

Key Points

• Principal Financial Group increased its MetLife stake by 3.2% in the first quarter, ending with 642,825 shares valued at about $45.46 million.
• Several other institutional investors also adjusted positions in MetLife, and overall institutional ownership remains very high at 94.99% of the stock.
• Wall Street sentiment is constructive: MetLife has a Moderate Buy consensus rating with an average price target of $98.57, while the stock recently traded near its 52-week high after beating quarterly EPS estimates.

Principal Financial Group Inc. grew its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 642,825 shares of the financial services provider's stock after acquiring an additional 20,036 shares during the quarter. Principal Financial Group Inc. owned 0.10% of MetLife worth $45,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of MetLife by 9.0% during the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after buying an additional 351 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of MetLife during the 1st quarter valued at $307,000. Empowered Funds LLC grew its position in MetLife by 187.6% during the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock worth $2,680,000 after acquiring an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MetLife in the 2nd quarter worth about $404,000. Finally, Jump Financial LLC acquired a new stake in shares of MetLife during the second quarter valued at about $444,000. 94.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 15th. Wells Fargo & Company lifted their price target on shares of MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Piper Sandler increased their price objective on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods upped their price target on MetLife from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MetLife has a consensus rating of "Moderate Buy" and an average target price of $98.57.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

MetLife Stock Performance

Shares of MetLife stock opened at $93.99 on Friday. The business has a 50-day moving average price of $85.80 and a two-hundred day moving average price of $79.07. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $94.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a market cap of $60.48 billion, a P/E ratio of 18.21, a PEG ratio of 0.71 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same quarter in the prior year, the company earned $1.96 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's payout ratio is presently 45.93%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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