M&G Investment Management Ltd. decreased its position in shares of MetLife, Inc. (NYSE:MET) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 83,985 shares of the financial services provider’s stock after selling 2,990 shares during the quarter. M&G Investment Management Ltd.’s holdings in MetLife were worth $5,123,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of MET. Norges Bank bought a new position in shares of MetLife during the 4th quarter worth $392,304,000. Viking Global Investors LP bought a new position in shares of MetLife during the 4th quarter worth $156,836,000. Morgan Stanley boosted its stake in MetLife by 54.8% in the 4th quarter. Morgan Stanley now owns 9,106,355 shares of the financial services provider’s stock worth $427,543,000 after purchasing an additional 3,222,204 shares during the period. Itau Unibanco Holding S.A. bought a new position in MetLife in the 4th quarter worth about $54,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in MetLife by 62,239.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,638,289 shares of the financial services provider’s stock worth $76,918,000 after purchasing an additional 1,635,661 shares during the period. Institutional investors own 75.46% of the company’s stock.
MET opened at $63.89 on Friday. The stock’s 50 day moving average is $64.13. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.23. MetLife, Inc. has a 1 year low of $34.82 and a 1 year high of $67.68. The company has a market cap of $55.93 billion, a price-to-earnings ratio of 51.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.33.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 14th. Stockholders of record on Tuesday, May 11th will be given a $0.48 dividend. This is a positive change from MetLife’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, May 10th. MetLife’s dividend payout ratio (DPR) is currently 31.17%.
In other news, EVP Marlene Debel sold 11,000 shares of MetLife stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $64.58, for a total value of $710,380.00. Following the sale, the executive vice president now directly owns 43,112 shares in the company, valued at approximately $2,784,172.96. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.
Several research analysts have commented on MET shares. Citigroup raised their target price on MetLife from $58.00 to $69.00 in a research note on Wednesday, March 31st. Argus raised their price target on MetLife from $53.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. TheStreet cut MetLife from a “b” rating to a “c+” rating in a report on Monday, May 10th. Morgan Stanley raised their price target on MetLife from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. Finally, Barclays raised their price target on MetLife from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.00.
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, 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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