Norges Bank Takes $730.72 Million Position in MetLife, Inc. (NYSE:MET)

Norges Bank acquired a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,924,234 shares of the financial services provider's stock, valued at approximately $730,716,000. Norges Bank owned 1.29% of MetLife at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC grew its position in shares of MetLife by 64.3% during the 3rd quarter. Cerity Partners LLC now owns 69,689 shares of the financial services provider's stock worth $5,748,000 after buying an additional 27,274 shares during the period. Kingsview Wealth Management LLC grew its holdings in MetLife by 14.8% in the third quarter. Kingsview Wealth Management LLC now owns 3,899 shares of the financial services provider's stock worth $322,000 after purchasing an additional 502 shares during the period. Larson Financial Group LLC increased its stake in MetLife by 59.5% in the third quarter. Larson Financial Group LLC now owns 906 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 338 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of MetLife by 3.1% during the third quarter. D.A. Davidson & CO. now owns 22,294 shares of the financial services provider's stock valued at $1,839,000 after purchasing an additional 671 shares during the period. Finally, FMR LLC boosted its position in shares of MetLife by 5.4% during the 3rd quarter. FMR LLC now owns 2,209,119 shares of the financial services provider's stock worth $182,208,000 after purchasing an additional 112,491 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

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MetLife Stock Performance

MetLife stock traded up $0.96 during mid-day trading on Tuesday, reaching $81.25. 804,368 shares of the company's stock were exchanged, compared to its average volume of 3,540,361. The business's fifty day simple moving average is $83.16 and its 200 day simple moving average is $82.98. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a one year low of $67.30 and a one year high of $89.05. The firm has a market capitalization of $55.35 billion, a PE ratio of 13.61, a P/E/G ratio of 0.65 and a beta of 1.04.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts' consensus estimates 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 expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, February 4th. MetLife's dividend payout ratio is currently 36.52%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MET shares. JPMorgan Chase & Co. boosted their target price on MetLife from $86.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price on MetLife from $92.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of MetLife from $101.00 to $109.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. BMO Capital Markets assumed coverage on shares of MetLife in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $97.00 price objective on the stock. Finally, Barclays decreased their target price on shares of MetLife from $96.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, MetLife presently has an average rating of "Moderate Buy" and a consensus price target of $94.58.

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.