Crestline Management LP acquired a new stake in Metlife Inc (NYSE:MET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,781 shares of the financial services provider’s stock, valued at approximately $2,537,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mackay Shields LLC lifted its position in shares of Metlife by 55.5% during the fourth quarter. Mackay Shields LLC now owns 508,626 shares of the financial services provider’s stock worth $20,884,000 after purchasing an additional 181,457 shares in the last quarter. Dana Investment Advisors Inc. acquired a new stake in shares of Metlife during the fourth quarter worth about $450,000. QS Investors LLC lifted its position in shares of Metlife by 200.4% during the fourth quarter. QS Investors LLC now owns 55,539 shares of the financial services provider’s stock worth $2,281,000 after purchasing an additional 37,052 shares in the last quarter. Achmea Investment Management B.V. lifted its position in shares of Metlife by 179.9% during the fourth quarter. Achmea Investment Management B.V. now owns 115,066 shares of the financial services provider’s stock worth $4,723,000 after purchasing an additional 73,959 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Metlife by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock valued at $509,344,000 after acquiring an additional 856,479 shares in the last quarter. 74.09% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:MET opened at $45.31 on Friday. The company has a market capitalization of $43.05 billion, a P/E ratio of 8.41, a PEG ratio of 0.96 and a beta of 1.20. Metlife Inc has a fifty-two week low of $37.76 and a fifty-two week high of $48.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.14 and a current ratio of 0.14.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Metlife had a net margin of 7.53% and a return on equity of 10.24%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.84 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts predict that Metlife Inc will post 5.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 5th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, February 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.71%. Metlife’s payout ratio is currently 31.17%.
In related news, Director Carlos M. Gutierrez acquired 6,400 shares of the business’s stock in a transaction on Monday, December 17th. The shares were bought at an average price of $39.04 per share, with a total value of $249,856.00. Following the completion of the acquisition, the director now owns 4,668 shares in the company, valued at $182,238.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven J. Goulart sold 10,292 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $44.40, for a total transaction of $456,964.80. Following the sale, the executive vice president now directly owns 93,214 shares in the company, valued at approximately $4,138,701.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
MET has been the topic of several analyst reports. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a report on Monday, November 19th. Wells Fargo & Co set a $60.00 target price on shares of Metlife and gave the company a “buy” rating in a report on Thursday, December 13th. Royal Bank of Canada reduced their target price on shares of Metlife from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, December 17th. Sandler O’Neill raised shares of Metlife from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Bank of America raised shares of Metlife from a “neutral” rating to a “buy” rating and set a $44.06 target price on the stock in a report on Wednesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.92.
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Metlife Company Profile
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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