Carnegie Investment Counsel Has $414,000 Stake in MetLife, Inc. $MET

Carnegie Investment Counsel decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,150 shares of the financial services provider’s stock after selling 400 shares during the quarter. Carnegie Investment Counsel’s holdings in MetLife were worth $414,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MET. Diamond Hill Capital Management Inc. acquired a new stake in shares of MetLife during the 1st quarter worth approximately $336,965,000. Nuveen LLC acquired a new position in MetLife during the first quarter valued at approximately $312,946,000. Price T Rowe Associates Inc. MD grew its holdings in MetLife by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider’s stock valued at $2,126,734,000 after purchasing an additional 1,824,907 shares during the period. Alyeska Investment Group L.P. acquired a new position in MetLife during the first quarter valued at approximately $68,030,000. Finally, AQR Capital Management LLC grew its holdings in MetLife by 85.0% during the first quarter. AQR Capital Management LLC now owns 1,321,881 shares of the financial services provider’s stock valued at $104,270,000 after purchasing an additional 607,333 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MET. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a report on Saturday. Morgan Stanley boosted their price objective on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Barclays lifted their price target on shares of MetLife from $93.00 to $98.00 and gave the company 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 given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

MetLife Stock Performance

Shares of MET stock opened at $78.71 on Monday. The company’s fifty day simple moving average is $80.37 and its 200-day simple moving average is $78.40. 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 cap of $52.34 billion, a PE ratio of 13.34, a P/E/G ratio of 0.71 and a beta of 0.86. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The business had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. Equities research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be issued a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is presently 38.47%.

About MetLife

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.