MQS Management LLC acquired a new position in MetLife, Inc. (NYSE:MET – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,725 shares of the financial services provider’s stock, valued at approximately $768,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delta Financial Advisors LLC raised its position in MetLife by 50.2% in the 4th quarter. Delta Financial Advisors LLC now owns 7,028 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 2,350 shares during the period. Legato Capital Management LLC purchased a new stake in MetLife in the 4th quarter worth about $662,000. Principle Wealth Partners LLC raised its position in MetLife by 14.0% in the 4th quarter. Principle Wealth Partners LLC now owns 4,880 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 598 shares during the period. Ignite Planners LLC raised its position in MetLife by 10.5% in the 4th quarter. Ignite Planners LLC now owns 7,246 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 688 shares during the period. Finally, Axxcess Wealth Management LLC raised its position in MetLife by 231.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 87,045 shares of the financial services provider’s stock worth $6,871,000 after purchasing an additional 60,785 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.
MetLife Price Performance
NYSE MET opened at $83.97 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The firm’s 50 day moving average price is $75.05 and its 200-day moving average price is $76.67. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $85.29. The company has a market cap of $54.03 billion, a PE ratio of 16.27, a P/E/G ratio of 0.63 and a beta of 0.78.
MetLife Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th will be paid a dividend of $0.5925 per share. This is a boost from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, May 12th. MetLife’s payout ratio is 45.93%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on MET. Barclays increased their price objective on shares of MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore set a $96.00 price objective on shares of MetLife in a research report on Thursday, April 9th. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Bank of America reduced their price objective on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus target price of $95.15.
Check Out Our Latest Research Report on MET
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.
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