Assetmark Inc. reduced its stake in MetLife, Inc. (NYSE:MET - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,937 shares of the financial services provider's stock after selling 9,052 shares during the period. Assetmark Inc.'s holdings in MetLife were worth $7,282,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB increased its stake in MetLife by 5.3% during the third quarter. Swedbank AB now owns 1,970,163 shares of the financial services provider's stock worth $162,499,000 after purchasing an additional 99,328 shares during the period. Concurrent Investment Advisors LLC increased its stake in MetLife by 5.1% during the third quarter. Concurrent Investment Advisors LLC now owns 28,208 shares of the financial services provider's stock worth $2,327,000 after purchasing an additional 1,370 shares during the period. Montecito Bank & Trust purchased a new stake in MetLife during the third quarter worth about $715,000. Principal Financial Group Inc. increased its stake in MetLife by 2.9% during the third quarter. Principal Financial Group Inc. now owns 670,565 shares of the financial services provider's stock worth $55,308,000 after purchasing an additional 18,788 shares during the period. Finally, Portside Wealth Group LLC increased its stake in MetLife by 4.4% during the third quarter. Portside Wealth Group LLC now owns 11,311 shares of the financial services provider's stock worth $933,000 after purchasing an additional 475 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. TD Cowen boosted their price objective on MetLife from $97.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped their price target on MetLife from $92.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. StockNews.com downgraded MetLife from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Barclays lowered their price target on MetLife from $96.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Finally, BMO Capital Markets assumed coverage on MetLife in a report on Thursday, January 23rd. They issued a "market perform" rating and a $97.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $94.58.
Get Our Latest Stock Report on MetLife
MetLife Stock Performance
MET traded up $0.06 during trading on Friday, reaching $82.28. 3,131,884 shares of the company were exchanged, compared to its average volume of 3,554,516. The stock has a market cap of $56.05 billion, a P/E ratio of 13.78, a PEG ratio of 0.65 and a beta of 1.04. The firm has a 50 day moving average of $83.72 and a 200 day moving average of $82.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 52 week low of $67.30 and a 52 week high of $89.05.
MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. On average, sell-side analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.
MetLife Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, February 4th. MetLife's dividend payout ratio is 36.52%.
MetLife Profile
(
Free Report)
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.
Further Reading
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