Allianz SE Acquires 690 Shares of MetLife, Inc. $MET

Allianz SE increased its stake in MetLife, Inc. (NYSE:MET) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,264 shares of the financial services provider’s stock after acquiring an additional 690 shares during the quarter. Allianz SE’s holdings in MetLife were worth $8,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MET. Price T Rowe Associates Inc. MD grew its position in shares of MetLife by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider’s stock worth $2,126,734,000 after buying an additional 1,824,907 shares during the period. Pzena Investment Management LLC boosted its position in MetLife by 6.8% in the second quarter. Pzena Investment Management LLC now owns 9,144,635 shares of the financial services provider’s stock worth $735,412,000 after purchasing an additional 585,671 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in MetLife by 3.6% during the first quarter. Ameriprise Financial Inc. now owns 7,406,512 shares of the financial services provider’s stock worth $594,410,000 after buying an additional 259,993 shares during the last quarter. Northern Trust Corp lifted its stake in MetLife by 0.8% in the first quarter. Northern Trust Corp now owns 7,109,423 shares of the financial services provider’s stock valued at $570,816,000 after purchasing an additional 57,221 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in MetLife by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,671,435 shares of the financial services provider’s stock worth $535,568,000 after acquiring an additional 236,698 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

NYSE MET opened at $80.17 on Thursday. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The company has a 50-day moving average price of $79.89 and a 200-day moving average price of $78.90. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $52.82 billion, a P/E ratio of 13.59, a PEG ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.07. The company had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $18.64 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.MetLife’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $1.95 EPS. Equities research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio is presently 42.75%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MET shares. UBS Group decreased their price objective on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Friday, September 19th. Keefe, Bruyette & Woods cut their target price on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

MetLife Profile

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.