Sit Investment Associates Inc. Makes New $5.15 Million Investment in MetLife, Inc. (NYSE:MET)

Sit Investment Associates Inc. bought a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 62,910 shares of the financial services provider's stock, valued at approximately $5,151,000.

Several other hedge funds and other institutional investors have also modified their holdings of MET. Geode Capital Management LLC lifted its position in MetLife by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider's stock worth $973,901,000 after acquiring an additional 158,107 shares during the last quarter. Norges Bank bought a new position in shares of MetLife during the fourth quarter worth approximately $730,716,000. Bank of New York Mellon Corp lifted its holdings in MetLife by 109.2% during the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock worth $722,727,000 after purchasing an additional 4,606,748 shares during the last quarter. Clearbridge Investments LLC boosted its stake in MetLife by 43.7% in the 4th quarter. Clearbridge Investments LLC now owns 5,663,177 shares of the financial services provider's stock valued at $463,701,000 after purchasing an additional 1,723,461 shares during the period. Finally, Nordea Investment Management AB grew its holdings in MetLife by 16.8% in the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider's stock valued at $347,735,000 after buying an additional 608,224 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

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MetLife Price Performance

Shares of MetLife stock traded down $0.67 during trading on Friday, reaching $70.44. 1,207,096 shares of the company's stock were exchanged, compared to its average volume of 3,394,410. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The company has a market cap of $47.99 billion, a P/E ratio of 11.78, a PEG ratio of 0.65 and a beta of 0.89. The firm's 50-day moving average price is $80.59 and its 200 day moving average price is $82.52.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 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%. As a group, research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

Analysts Set New Price Targets

MET has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of MetLife from $97.00 to $91.00 and set an "overweight" rating for the company in a research report on Thursday. Morgan Stanley decreased their target price on shares of MetLife from $109.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday. StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Cowen reiterated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. Finally, UBS Group raised their price objective on MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

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.