1832 Asset Management L.P. Grows Position in MetLife, Inc. (NYSE:MET)

1832 Asset Management L.P. raised its stake in MetLife, Inc. (NYSE:MET) by 79.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,344 shares of the financial services provider’s stock after purchasing an additional 593 shares during the quarter. 1832 Asset Management L.P.’s holdings in MetLife were worth $94,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. grew its position in MetLife by 4.6% during the fourth quarter. Gilbert & Cook Inc. now owns 13,872 shares of the financial services provider’s stock valued at $917,000 after acquiring an additional 605 shares during the period. Gryphon Financial Partners LLC purchased a new stake in shares of MetLife during the 4th quarter worth about $201,000. Cambridge Investment Research Advisors Inc. increased its position in MetLife by 7.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,499 shares of the financial services provider’s stock worth $5,191,000 after purchasing an additional 5,707 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in MetLife by 0.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 31,688 shares of the financial services provider’s stock valued at $2,096,000 after buying an additional 252 shares during the period. Finally, Legacy Advisors LLC acquired a new position in MetLife during the fourth quarter valued at approximately $218,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MET shares. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Thursday. Barclays initiated coverage on MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective on the stock. Bank of America lowered their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price target on MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.54.

MetLife Stock Up 1.0 %

MET opened at $81.54 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $57.10 billion, a PE ratio of 28.02, a P/E/G ratio of 0.66 and a beta of 1.04. The stock’s fifty day moving average is $74.99 and its 200-day moving average is $72.84. MetLife, Inc. has a one year low of $57.91 and a one year high of $81.97.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. The firm had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. MetLife’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. On average, equities analysts predict that MetLife, Inc. will post 8.68 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th were given a $0.545 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.18 annualized dividend and a yield of 2.67%. MetLife’s dividend payout ratio (DPR) is 74.91%.

About MetLife

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.