ClariVest Asset Management LLC reduced its holdings in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,141 shares of the financial services provider’s stock after selling 3,843 shares during the period. ClariVest Asset Management LLC’s holdings in MetLife were worth $9,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in MET. KBC Group NV increased its position in MetLife by 181.1% during the 4th quarter. KBC Group NV now owns 2,620,548 shares of the financial services provider’s stock valued at $163,758,000 after buying an additional 1,688,395 shares in the last quarter. Nordea Investment Management AB increased its position in MetLife by 118.3% during the 4th quarter. Nordea Investment Management AB now owns 2,932,631 shares of the financial services provider’s stock valued at $183,729,000 after buying an additional 1,589,304 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MetLife by 8.4% in the third quarter. Geode Capital Management LLC now owns 12,975,835 shares of the financial services provider’s stock valued at $798,819,000 after purchasing an additional 1,003,429 shares during the period. Viking Global Investors LP acquired a new position in shares of MetLife in the third quarter valued at about $59,208,000. Finally, Neuberger Berman Group LLC increased its holdings in shares of MetLife by 61.5% in the third quarter. Neuberger Berman Group LLC now owns 2,299,882 shares of the financial services provider’s stock valued at $140,657,000 after purchasing an additional 875,492 shares during the period. 89.65% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on MetLife in a report on Monday. They issued a “buy” rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on MetLife from $69.00 to $75.00 in a report on Tuesday, April 5th. Barclays increased their price objective on MetLife from $76.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Piper Sandler upped their target price on MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. Finally, Morgan Stanley upped their target price on MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 22nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $74.85.
MetLife (NYSE:MET – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. MetLife had a return on equity of 12.04% and a net margin of 9.63%. The company had revenue of $17.72 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. MetLife’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that MetLife, Inc. will post 7.5 earnings per share for the current fiscal year.
MetLife declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from MetLife’s previous quarterly dividend of $0.48. MetLife’s dividend payout ratio is presently 25.91%.
About MetLife (Get Rating)
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, 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.
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