Andra AP fonden Buys Shares of 31,400 MetLife, Inc. $MET

Andra AP fonden purchased a new position in MetLife, Inc. (NYSE:MET) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,400 shares of the financial services provider’s stock, valued at approximately $2,221,000.

Several other institutional investors also recently modified their holdings of MET. Activest Wealth Management lifted its stake in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares during the period. Sound Income Strategies LLC grew its position in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in MetLife during the fourth quarter valued at approximately $30,000. Prosperity Bancshares Inc purchased a new stake in MetLife during the fourth quarter valued at approximately $31,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the fourth quarter valued at about $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. UBS Group increased their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Morgan Stanley increased their price target on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Atlantic Securities set a $103.00 price target on MetLife in a report on Wednesday, July 15th. Finally, Evercore set a $96.00 price target on MetLife in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

MetLife Trading Down 0.7%

MET stock opened at $92.65 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $86.97 and its two-hundred day simple moving average is $79.45. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $94.86. The stock has a market capitalization of $59.61 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 EPS. As a group, analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.6%. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.