Aster Capital Management DIFC Ltd Buys New Stake in MetLife, Inc. $MET

Aster Capital Management DIFC Ltd bought a new stake in shares of MetLife, Inc. (NYSE:MET) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,930 shares of the financial services provider’s stock, valued at approximately $468,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its position in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC raised its position in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Sound Income Strategies LLC raised its position in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of MetLife in the third quarter worth about $32,000. Finally, Albion Financial Group UT acquired a new position in shares of MetLife in the fourth quarter worth about $32,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Performance

MetLife stock opened at $87.33 on Wednesday. The firm has a 50 day simple moving average of $80.22 and a 200-day simple moving average of $77.58. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $89.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $56.19 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78.

MetLife (NYSE:MET) last posted its quarterly earnings results 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. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. During the same quarter in the prior year, the company posted $1.96 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post 9.98 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were issued a $0.5925 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.37 annualized dividend and a dividend yield of 2.7%. This is an increase from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore set a $96.00 price objective on shares of MetLife in a research report on Thursday, April 9th. Barclays upped their price objective on shares of MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Bank of America cut their target price on shares of MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Piper Sandler boosted their target price on shares of MetLife from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $95.31.

About MetLife

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.