ABC Arbitrage SA Has $2.05 Million Stock Holdings in MetLife, Inc. $MET

ABC Arbitrage SA boosted its position in MetLife, Inc. (NYSE:MET) by 924.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,991 shares of the financial services provider’s stock after buying an additional 26,160 shares during the period. ABC Arbitrage SA’s holdings in MetLife were worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management grew its position in MetLife by 205.8% in the 4th 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 grew its holdings in shares of MetLife by 790.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife during the fourth quarter worth about $30,000. Sound Income Strategies LLC raised its holdings in shares of MetLife by 58.9% in the 4th 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 last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in MetLife in the 4th quarter valued at about $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $93.04 on Tuesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $84.69 and its 200 day simple moving average is $78.71. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $93.16. The company has a market cap of $59.86 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.69 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS. Sell-side analysts forecast that MetLife, Inc. will post 9.97 EPS for the current year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.5%. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MET shares. Mizuho increased their price objective on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company raised their price objective on MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler lifted their price objective on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, Jefferies Financial Group increased their target price on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $98.23.

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.