TD Asset Management Inc. raised its position in Metlife Inc (NYSE:MET) by 4.4% in the 1st quarter, Holdings Channel reports. The firm owned 3,214,990 shares of the financial services provider’s stock after buying an additional 134,769 shares during the period. TD Asset Management Inc.’s holdings in Metlife were worth $136,862,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. bought a new position in Metlife in the fourth quarter valued at about $450,000. Belpointe Asset Management LLC raised its position 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 valued at $599,000 after purchasing an additional 9,187 shares during the last quarter. MML Investors Services LLC raised its position 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 valued at $2,873,000 after purchasing an additional 12,779 shares during the last quarter. Prudential Financial Inc. raised its position 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 valued at $213,603,000 after purchasing an additional 620,879 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Metlife by 16.9% in the first quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 2,297 shares during the last quarter. Hedge funds and other institutional investors own 77.77% of the company’s stock.
MET has been the subject of a number of analyst reports. Argus restated a “buy” rating on shares of Metlife in a research report on Tuesday, February 12th. UBS Group raised their price objective on Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Sandler O’Neill downgraded Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Tuesday, March 19th. ValuEngine downgraded Metlife from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, Zacks Investment Research downgraded Metlife from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Metlife presently has an average rating of “Hold” and an average price target of $52.76.
Metlife (NYSE:MET) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.18. The business had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Metlife Inc will post 5.61 EPS for the current year.
The firm 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 $0.44 dividend. This is an increase from Metlife’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, May 6th. Metlife’s payout ratio is presently 32.65%.
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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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