Andra AP fonden Acquires Shares of 159,400 Metlife Inc (NYSE:MET)
Andra AP fonden acquired a new position in Metlife Inc (NYSE:MET) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 159,400 shares of the financial services provider’s stock, valued at approximately $6,786,000.
Other large investors have also recently made changes to their positions in the company. Dana Investment Advisors Inc. acquired a new stake in Metlife in the fourth quarter valued at approximately $450,000. Sigma Planning Corp grew its holdings in Metlife by 16.9% in the first quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 2,297 shares during the period. Belpointe Asset Management LLC grew its holdings in Metlife by 169.9% in the fourth quarter. Belpointe Asset Management LLC now owns 14,593 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 9,187 shares during the period. MML Investors Services LLC grew its holdings in Metlife by 22.3% in the fourth quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock valued at $2,873,000 after purchasing an additional 12,779 shares during the period. Finally, Prudential Financial Inc. grew its holdings in Metlife by 13.6% in the fourth quarter. Prudential Financial Inc. now owns 5,202,203 shares of the financial services provider’s stock valued at $213,603,000 after purchasing an additional 620,879 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.
A number of analysts have recently issued reports on MET shares. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. UBS Group lifted their price target on Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Sandler O’Neill lowered Metlife from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Tuesday, March 19th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $55.00 price target on shares of Metlife in a research note on Wednesday, June 5th. Finally, Barclays lifted their price target on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.59.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.18. The company had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. Equities analysts anticipate that Metlife Inc will post 5.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Metlife’s previous quarterly dividend of $0.42. Metlife’s payout ratio is 32.65%.
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MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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