Intech Investment Management LLC Purchases 6,930 Shares of MetLife, Inc. (NYSE:MET)

Intech Investment Management LLC increased its holdings in MetLife, Inc. (NYSE:MET) by 21.4% during the 2nd quarter, Holdings Channel reports. The firm owned 39,269 shares of the financial services provider’s stock after buying an additional 6,930 shares during the period. Intech Investment Management LLC’s holdings in MetLife were worth $2,756,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GoalVest Advisory LLC increased its stake in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares during the period. Pineridge Advisors LLC bought a new position in MetLife in the 4th quarter worth $39,000. Bank & Trust Co purchased a new stake in shares of MetLife in the 2nd quarter worth about $39,000. Crewe Advisors LLC boosted its stake in shares of MetLife by 602.5% during the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of MetLife by 72.6% during the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Trading Down 0.3 %

NYSE:MET opened at $80.85 on Monday. The stock has a market cap of $57.49 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 0.61 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average price is $74.66 and its 200-day moving average price is $72.64. MetLife, Inc. has a 52 week low of $57.91 and a 52 week high of $81.39.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 8.67 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, August 6th. MetLife’s dividend payout ratio is currently 74.91%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America cut their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on MetLife from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Barclays assumed coverage on shares of MetLife in a report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Citigroup lifted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.54.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.