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

Principal Financial Group Inc. grew its position in MetLife, Inc. (NYSE:MET - Free Report) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 670,565 shares of the financial services provider's stock after acquiring an additional 18,788 shares during the quarter. Principal Financial Group Inc. owned 0.10% of MetLife worth $55,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI grew its stake in MetLife by 54.9% in the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider's stock valued at $26,983,000 after acquiring an additional 131,538 shares during the period. PFG Investments LLC lifted its stake in MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider's stock worth $525,000 after purchasing an additional 520 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of MetLife in the 1st quarter valued at $1,053,000. Entropy Technologies LP lifted its holdings in MetLife by 38.3% during the 1st quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider's stock worth $2,258,000 after buying an additional 8,440 shares during the period. Finally, M&G Plc acquired a new position in MetLife during the 2nd quarter worth about $2,346,000. Institutional investors own 89.81% of the company's stock.

MetLife Price Performance

NYSE MET traded up $0.75 on Monday, reaching $81.77. The company's stock had a trading volume of 3,988,462 shares, compared to its average volume of 3,336,971. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $56.62 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a 52 week low of $60.26 and a 52 week high of $86.94. The business has a 50-day moving average price of $81.03 and a 200 day moving average price of $75.23.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, November 5th. MetLife's dividend payout ratio is presently 43.95%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group boosted their target price on MetLife from $89.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, September 27th. TD Cowen started coverage on MetLife in a research note on Wednesday, October 9th. They set a "buy" rating and a $97.00 price objective on the stock. Citigroup raised their price objective on shares of MetLife from $83.00 to $89.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Barclays reduced their price target 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. Finally, StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.46.

About MetLife

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.