Principal Financial Group Inc. Purchases 20,036 Shares of MetLife, Inc. $MET

Principal Financial Group Inc. boosted its holdings in shares of MetLife, Inc. (NYSE:MET) by 3.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 642,825 shares of the financial services provider’s stock after acquiring an additional 20,036 shares during the period. Principal Financial Group Inc.’s holdings in MetLife were worth $45,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Activest Wealth Management increased its holdings in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of MetLife during the fourth quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the fourth quarter worth $31,000. Finally, Prosperity Bancshares Inc bought a new stake in MetLife during the fourth quarter worth $31,000. 94.99% of the stock is owned by institutional investors.

Key Stories Impacting MetLife

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 Up 0.3%

Shares of NYSE:MET opened at $93.99 on Friday. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $94.86. The company has a market capitalization of $60.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78. The business has a fifty day moving average price of $85.80 and a two-hundred day moving average price of $79.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 EPS. Analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.5%. MetLife’s payout ratio is currently 45.93%.

Wall Street Analysts Forecast Growth

MET has been the topic of several recent analyst reports. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Evercore set a $96.00 target price on shares of MetLife in a report on Thursday, April 9th. Piper Sandler raised their price target on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Wells Fargo & Company boosted 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. Finally, Jefferies Financial Group increased their price objective on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.57.

MetLife 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.