Fifth Third Bancorp increased its position in MetLife, Inc. (NYSE:MET) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,244 shares of the financial services provider’s stock after acquiring an additional 422 shares during the period. Fifth Third Bancorp’s holdings in MetLife were worth $3,169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in shares of MetLife by 18.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 39,200 shares of the financial services provider’s stock worth $1,457,000 after acquiring an additional 6,000 shares during the period. Nuveen Asset Management LLC lifted its stake in MetLife by 2.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,507,280 shares of the financial services provider’s stock valued at $201,126,000 after buying an additional 110,024 shares in the last quarter. WINTON GROUP Ltd lifted its stake in MetLife by 32.6% in the 3rd quarter. WINTON GROUP Ltd now owns 58,041 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 14,271 shares in the last quarter. Cibc World Markets Corp lifted its stake in MetLife by 12.9% in the 2nd quarter. Cibc World Markets Corp now owns 244,586 shares of the financial services provider’s stock valued at $8,932,000 after buying an additional 27,924 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its stake in shares of MetLife by 13.4% during the 2nd quarter. Cigna Investments Inc. New now owns 24,840 shares of the financial services provider’s stock worth $908,000 after purchasing an additional 2,933 shares during the period. Institutional investors and hedge funds own 74.92% of the company’s stock.
MET has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price target on MetLife from $46.00 to $55.00 and gave the stock a “positive” rating in a research note on Tuesday, November 17th. TheStreet raised MetLife from a “c+” rating to a “b” rating in a research note on Thursday, November 5th. Morgan Stanley increased their price target on MetLife from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday. Argus reissued a “buy” rating on shares of MetLife in a research note on Wednesday, August 19th. Finally, Barclays initiated coverage on MetLife in a research note on Tuesday, November 17th. They set an “overweight” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.88.
Shares of MET opened at $45.87 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $41.28 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. The stock’s fifty day simple moving average is $40.47 and its 200 day simple moving average is $37.99. MetLife, Inc. has a twelve month low of $22.85 and a twelve month high of $53.28.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.08. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16 billion. MetLife had a return on equity of 8.25% and a net margin of 8.82%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. Sell-side analysts predict that MetLife, Inc. will post 5.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Tuesday, November 3rd will be issued a $0.46 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.84 annualized dividend and a yield of 4.01%. MetLife’s dividend payout ratio is currently 30.11%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses 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, 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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