Eastern Bank purchased a new position in shares of MetLife, Inc. (NYSE:MET – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,081 shares of the financial services provider’s stock, valued at approximately $223,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Echo Street Capital Management LLC acquired a new position in MetLife during the 3rd quarter worth approximately $285,000. Verity & Verity LLC boosted its holdings in shares of MetLife by 5.3% in the 2nd quarter. Verity & Verity LLC now owns 132,061 shares of the financial services provider’s stock valued at $8,292,000 after buying an additional 6,686 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of MetLife by 7.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,602 shares of the financial services provider’s stock valued at $280,000 after buying an additional 320 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of MetLife by 11.3% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 600,719 shares of the financial services provider’s stock valued at $43,474,000 after buying an additional 61,120 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of MetLife by 4.5% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 30,828 shares of the financial services provider’s stock valued at $1,874,000 after buying an additional 1,316 shares in the last quarter. Institutional investors and hedge funds own 88.15% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on MET shares. The Goldman Sachs Group cut shares of MetLife from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $78.00 in a report on Monday, January 9th. Wells Fargo & Company upped their target price on shares of MetLife from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Morgan Stanley upped their price target on shares of MetLife from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. StockNews.com assumed coverage on shares of MetLife in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of MetLife from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.36.
Insider Activity
MetLife Stock Up 1.6 %
Shares of MetLife stock opened at $57.94 on Monday. The firm has a fifty day moving average of $66.53 and a two-hundred day moving average of $69.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $44.87 billion, a P/E ratio of 19.77, a PEG ratio of 0.53 and a beta of 1.08. MetLife, Inc. has a one year low of $52.83 and a one year high of $77.36.
MetLife (NYSE:MET – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.19). The company had revenue of $15.84 billion during the quarter, compared to analysts’ expectations of $17.21 billion. MetLife had a net margin of 3.63% and a return on equity of 15.64%. The business’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 EPS. On average, analysts forecast that MetLife, Inc. will post 8.29 earnings per share for the current year.
MetLife Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 7th were issued a $0.50 dividend. The ex-dividend date was Monday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.45%. MetLife’s dividend payout ratio is presently 68.26%.
About MetLife
MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.
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