M&G Investment Management Ltd. Makes New $386,000 Investment in MetLife, Inc. (NYSE:MET)

M&G Investment Management Ltd. purchased a new position in MetLife, Inc. (NYSE:METGet Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,322 shares of the financial services provider’s stock, valued at approximately $386,000.

Several other hedge funds have also added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MetLife by 3,664.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,959,014 shares of the financial services provider’s stock valued at $123,007,000 after acquiring an additional 1,906,969 shares during the last quarter. Truist Financial Corp raised its stake in shares of MetLife by 296.5% during the third quarter. Truist Financial Corp now owns 1,497,828 shares of the financial services provider’s stock valued at $91,038,000 after acquiring an additional 1,120,079 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of MetLife by 309.7% during the first quarter. Ensign Peak Advisors Inc now owns 1,364,265 shares of the financial services provider’s stock valued at $95,881,000 after acquiring an additional 1,031,277 shares during the last quarter. Cibc World Market Inc. raised its stake in shares of MetLife by 199.0% during the second quarter. Cibc World Market Inc. now owns 665,207 shares of the financial services provider’s stock valued at $41,768,000 after acquiring an additional 442,754 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its stake in shares of MetLife by 282.6% during the second quarter. Signature Estate & Investment Advisors LLC now owns 593,355 shares of the financial services provider’s stock valued at $37,257,000 after acquiring an additional 438,286 shares during the last quarter. 88.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of MetLife from a “buy” rating to a “hold” rating and lowered their price objective for the company from $86.00 to $82.00 in a research note on Friday, December 9th. The Goldman Sachs Group downgraded shares of MetLife from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $78.00 in a research note on Monday, January 9th. Wells Fargo & Company reduced their price target on shares of MetLife from $75.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 12th. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley boosted their price target on shares of MetLife from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

Insider Activity

In other news, EVP Susan M. Podlogar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $71.91, for a total transaction of $215,730.00. Following the sale, the executive vice president now owns 46,193 shares in the company, valued at $3,321,738.63. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Susan M. Podlogar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $71.91, for a total transaction of $215,730.00. Following the sale, the executive vice president now owns 46,193 shares in the company, valued at $3,321,738.63. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven J. Goulart sold 29,401 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $71.88, for a total transaction of $2,113,343.88. Following the sale, the executive vice president now owns 273,310 shares in the company, valued at approximately $19,645,522.80. The disclosure for this sale can be found here. Insiders have sold a total of 37,401 shares of company stock worth $2,706,824 over the last 90 days. 0.26% of the stock is currently owned by insiders.

MetLife Price Performance

Shares of MET opened at $71.92 on Monday. The stock has a market cap of $56.43 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 4.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. MetLife, Inc. has a fifty-two week low of $57.41 and a fifty-two week high of $77.36. The firm’s 50-day simple moving average is $73.68 and its two-hundred day simple moving average is $68.05.

MetLife (NYSE:METGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.03. The business had revenue of $23.69 billion for the quarter, compared to analysts’ expectations of $19.89 billion. MetLife had a net margin of 3.26% and a return on equity of 13.60%. Analysts anticipate that MetLife, Inc. will post 7.08 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, February 6th. MetLife’s payout ratio is 75.19%.

MetLife Profile

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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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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