Independent Financial Group LLC purchased a new position in shares of MetLife, Inc. (NYSE:MET – Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,571 shares of the financial services provider’s stock, valued at approximately $394,000.
Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its stake in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the last quarter. Sound Income Strategies LLC raised its stake in MetLife by 58.9% in 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 last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in MetLife in the fourth quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife in the fourth quarter worth about $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of MetLife during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
MetLife Trading Up 2.3%
MetLife stock opened at $94.67 on Friday. The stock has a 50-day moving average price of $87.27 and a 200 day moving average price of $79.55. The company has a market capitalization of $60.91 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $94.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53.
MetLife Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is 45.93%.
Analysts Set New Price Targets
Several equities analysts recently commented on MET shares. Keefe, Bruyette & Woods increased their price objective on shares of MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Morgan Stanley upped their price target on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $96.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One equities research 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 stock. Based on data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.
About MetLife
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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