State of Alaska Department of Revenue grew its stake in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,350 shares of the financial services provider’s stock after purchasing an additional 3,955 shares during the quarter. State of Alaska Department of Revenue’s holdings in MetLife were worth $8,058,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New England Professional Planning Group Inc. acquired a new stake in MetLife during the first quarter worth approximately $602,000. Riverview Trust Co acquired a new stake in MetLife during the first quarter worth approximately $36,000. Stonebridge Capital Advisors LLC raised its holdings in MetLife by 91.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 535 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 255 shares in the last quarter. Cornerstone Advisory LLC acquired a new stake in MetLife during the fourth quarter worth approximately $36,000. Finally, Sandy Spring Bank raised its holdings in MetLife by 51.4% during the first quarter. Sandy Spring Bank now owns 680 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 86.53% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Credit Suisse Group raised their price objective on shares of MetLife from $68.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. JPMorgan Chase & Co. cut their target price on shares of MetLife from $75.00 to $74.00 in a report on Monday, July 11th. Morgan Stanley lifted their target price on shares of MetLife from $79.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Evercore ISI lifted their target price on shares of MetLife to $81.00 in a report on Tuesday, August 9th. Finally, Citigroup initiated coverage on shares of MetLife in a report on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.92.
Insiders Place Their Bets
MetLife Stock Performance
NYSE:MET opened at $65.08 on Monday. The firm’s fifty day moving average price is $64.26 and its 200 day moving average price is $65.58. MetLife, Inc. has a 1-year low of $57.05 and a 1-year high of $73.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05.
MetLife Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $2.00 annualized dividend and a dividend yield of 3.07%. MetLife’s payout ratio is currently 49.75%.
MetLife Company Profile
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.
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