International Assets Investment Management LLC Buys New Stake in MetLife, Inc. (NYSE:MET)

Posted by on Apr 11th, 2023

International Assets Investment Management LLC purchased a new position in MetLife, Inc. (NYSE:MET – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 222,569 shares of the financial services provider’s stock, valued at approximately $1,200,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Echo Street Capital Management LLC purchased a new position in shares of MetLife in the third quarter valued at $285,000. Verity & Verity LLC grew its stake 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 worth $8,292,000 after buying an additional 6,686 shares in the last quarter. Benjamin Edwards Inc. increased 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 worth $280,000 after buying an additional 320 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of MetLife by 11.3% during 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 lifted 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 acquiring an additional 1,316 shares during the last quarter. Institutional investors own 88.15% of the company’s stock.

Insider Buying and Selling at MetLife

In other news, EVP Bill Pappas sold 11,345 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $71.96, for a total value of $816,386.20. Following the completion of the transaction, the executive vice president now directly owns 46,231 shares of the company’s stock, valued at approximately $3,326,782.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MET. Wells Fargo & Company reduced their price objective on MetLife from $84.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. StockNews.com began coverage on MetLife in a report on Thursday, March 16th. They set a “hold” rating on the stock. The Goldman Sachs Group lowered their price target on MetLife from $79.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, April 5th. Morgan Stanley boosted their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus target price of $77.64.

MetLife Stock Up 0.7 %

NYSE:MET opened at $59.48 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.13 and a quick ratio of 0.13. MetLife, Inc. has a 1-year low of $52.83 and a 1-year high of $77.36. The company has a 50-day moving average of $64.97 and a 200 day moving average of $68.88. The firm has a market cap of $46.06 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05.

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 for the quarter, missing the consensus estimate of $1.74 by ($0.19). The business had revenue of $15.84 billion during the quarter, compared to analysts’ expectations of $17.21 billion. MetLife had a return on equity of 15.64% and a net margin of 3.63%. MetLife’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts anticipate that MetLife, Inc. will post 8.32 EPS for the current fiscal year.

MetLife Company Profile

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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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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