Tobam Buys 8,596 Shares of MetLife, Inc. $MET

Tobam raised its stake in MetLife, Inc. (NYSE:MET) by 53,725.0% during the fourth quarter, HoldingsChannel reports. The fund owned 8,612 shares of the financial services provider’s stock after buying an additional 8,596 shares during the period. Tobam’s holdings in MetLife were worth $680,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MET. Activest Wealth Management boosted its stake in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC increased its stake in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in MetLife in the fourth quarter worth about $30,000. Finally, Prosperity Bancshares Inc bought a new position in shares of MetLife in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

MET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Morgan Stanley upped their price objective on MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Wells Fargo & Company increased their target price on MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Bank of America decreased their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and an average target price of $95.31.

MetLife Stock Performance

Shares of NYSE MET opened at $85.76 on Friday. The firm’s 50-day moving average price is $81.04 and its 200-day moving average price is $77.77. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $89.62. The company has a market cap of $55.18 billion, a PE ratio of 16.62, a PEG ratio of 0.64 and a beta of 0.78. 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 (NYSE:MET) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 earnings per share. As a group, analysts anticipate that MetLife, Inc. will post 9.98 EPS for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.5925 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a yield of 2.8%. This is a boost from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

MetLife 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.