Connor Clark & Lunn Investment Management Ltd. Has $43.10 Million Position in MetLife, Inc. $MET

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MetLife, Inc. (NYSE:MET) by 225.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,976 shares of the financial services provider’s stock after purchasing an additional 371,518 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in MetLife were worth $43,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its holdings in MetLife by 88.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 2,965 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in MetLife during the first quarter worth $12,060,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in MetLife by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,050,921 shares of the financial services provider’s stock valued at $84,378,000 after buying an additional 123,947 shares during the last quarter. GSA Capital Partners LLP lifted its stake in MetLife by 136.0% during the 1st quarter. GSA Capital Partners LLP now owns 14,721 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 8,482 shares in the last quarter. Finally, Bell Bank bought a new stake in shares of MetLife in the 2nd quarter worth $267,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Up 0.2%

Shares of NYSE:MET opened at $76.11 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $50.62 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.70 and a beta of 0.87. The stock has a 50 day moving average price of $80.04 and a 200-day moving average price of $78.86. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05.

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

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio is currently 42.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MET shares. Wells Fargo & Company dropped their price target on shares of MetLife from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a research report on Wednesday, October 8th. Morgan Stanley increased their price target on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Barclays upped their price objective on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, UBS Group lowered their target price on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

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.