Great Lakes Advisors LLC Has $50.97 Million Stake in Metlife Inc (MET)

Great Lakes Advisors LLC grew its holdings in shares of Metlife Inc (NYSE:MET) by 34.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,197,398 shares of the financial services provider’s stock after buying an additional 308,579 shares during the period. Metlife accounts for 1.1% of Great Lakes Advisors LLC’s portfolio, making the stock its 22nd largest position. Great Lakes Advisors LLC’s holdings in Metlife were worth $50,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dana Investment Advisors Inc. bought a new position in shares of Metlife during the fourth quarter valued at approximately $450,000. Belpointe Asset Management LLC grew its stake in Metlife by 169.9% in the fourth quarter. Belpointe Asset Management LLC now owns 14,593 shares of the financial services provider’s stock worth $599,000 after purchasing an additional 9,187 shares in the last quarter. MML Investors Services LLC grew its stake in Metlife by 22.3% in the fourth quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 12,779 shares in the last quarter. Prudential Financial Inc. grew its stake in Metlife by 13.6% in the fourth quarter. Prudential Financial Inc. now owns 5,202,203 shares of the financial services provider’s stock worth $213,603,000 after purchasing an additional 620,879 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in Metlife by 2.5% in the fourth quarter. Sumitomo Life Insurance Co. now owns 36,468 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 880 shares in the last quarter. 77.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MET opened at $47.33 on Friday. Metlife Inc has a 52-week low of $37.76 and a 52-week high of $48.92. The company has a market capitalization of $44.98 billion, a P/E ratio of 8.78, a PEG ratio of 1.00 and a beta of 1.21. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.24.

Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.18. The company had revenue of $15.45 billion for the quarter, compared to analysts’ expectations of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. Metlife’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, equities research analysts predict that Metlife Inc will post 5.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Metlife’s previous quarterly dividend of $0.42. Metlife’s dividend payout ratio is currently 32.65%.

Several research analysts recently issued reports on the company. ValuEngine raised Metlife from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Zacks Investment Research cut Metlife from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. Deutsche Bank increased their price objective on Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Argus reissued a “buy” rating on shares of Metlife in a research note on Tuesday, February 12th. Finally, Sandler O’Neill cut Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, March 19th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.76.

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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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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