CI Investments Inc. acquired a new position in shares of MetLife, Inc. (NYSE:MET) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,000 shares of the financial services provider’s stock, valued at approximately $158,000.

A number of other hedge funds have also bought and sold shares of MET. Cigna Investments Inc. New acquired a new stake in MetLife during the fourth quarter worth about $2,099,000. Commonwealth Bank of Australia increased its stake in shares of MetLife by 3.9% in the third quarter. Commonwealth Bank of Australia now owns 221,247 shares of the financial services provider’s stock worth $9,829,000 after buying an additional 8,400 shares during the period. Atria Investments LLC increased its stake in shares of MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock worth $999,000 after buying an additional 488 shares during the period. State Street Corp increased its stake in shares of MetLife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the financial services provider’s stock worth $2,605,045,000 after buying an additional 4,003,013 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in shares of MetLife during the first quarter worth $1,525,000. 74.53% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

Shares of MetLife, Inc. (MET) opened at 53.52 on Friday. The stock’s 50 day moving average is $51.66 and its 200 day moving average is $53.14. The firm’s market capitalization is $57.58 billion. MetLife, Inc. has a 52-week low of $36.17 and a 52-week high of $58.09.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.19. The company had revenue of $16.27 billion during the quarter, compared to the consensus estimate of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. MetLife’s revenue was down 11.7% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. On average, equities research analysts forecast that MetLife, Inc. will post $5.36 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Monday, May 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. MetLife’s dividend payout ratio is presently -258.06%.

TRADEMARK VIOLATION NOTICE: “CI Investments Inc. Purchases Shares of 3,000 MetLife, Inc. (MET)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/06/17/ci-investments-inc-acquires-new-stake-in-metlife-inc-met-updated.html.

MET has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, April 11th. Bank of America Corporation downgraded shares of MetLife from a “buy” rating to a “neutral” rating and upped their price target for the stock from $54.20 to $54.83 in a report on Monday, March 6th. Citigroup Inc. reissued a “focus list” rating on shares of MetLife in a research note on Tuesday, February 21st. Vetr raised shares of MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 price objective for the company in a research note on Tuesday, March 21st. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.94.

In related news, Director James M. Kilts purchased 17,205 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was bought at an average cost of $51.13 per share, for a total transaction of $879,691.65. Following the completion of the transaction, the director now directly owns 59,443 shares in the company, valued at $3,039,320.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

MetLife Company Profile

MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.

Receive News & Stock Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related stocks with our FREE daily email newsletter.