Mitsubishi UFJ Trust & Banking Corp boosted its stake in MetLife, Inc. (NYSE:MET) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,262,691 shares of the financial services provider’s stock after buying an additional 61,049 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of MetLife worth $66,249,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. ING Groep NV grew its stake in MetLife by 2.1% in the 1st quarter. ING Groep NV now owns 49,772 shares of the financial services provider’s stock valued at $3,026,000 after buying an additional 1,034 shares during the last quarter. Advisory Research Inc. boosted its holdings in MetLife by 21.7% in the 1st quarter. Advisory Research Inc. now owns 260,819 shares of the financial services provider’s stock valued at $15,855,000 after purchasing an additional 46,433 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in MetLife by 0.6% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 55,187 shares of the financial services provider’s stock valued at $3,355,000 after purchasing an additional 335 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in MetLife by 58.8% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 153,092 shares of the financial services provider’s stock valued at $9,307,000 after purchasing an additional 56,715 shares during the period. Finally, Stuart Chaussee & Associates Inc. bought a new stake in MetLife in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
MET opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $55.93 billion, a PE ratio of 51.94, a PEG ratio of 1.91 and a beta of 1.33. The business’s fifty day moving average price is $64.13. MetLife, Inc. has a twelve month low of $34.82 and a twelve month high of $67.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 14th. Shareholders of record on Tuesday, May 11th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from MetLife’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, May 10th. MetLife’s dividend payout ratio (DPR) is 31.17%.
In other MetLife news, EVP Marlene Debel sold 11,000 shares of the firm’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $64.58, for a total value of $710,380.00. Following the transaction, the executive vice president now directly owns 43,112 shares of the company’s stock, valued at $2,784,172.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.
A number of analysts have issued reports on MET shares. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 5th. Morgan Stanley upped their price target on shares of MetLife from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, May 6th. Royal Bank of Canada upped their price target on shares of MetLife from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, May 7th. UBS Group began coverage on shares of MetLife in a report on Monday, April 26th. They set a “buy” rating and a $72.00 price target for the company. Finally, Citigroup increased their price objective on shares of MetLife from $58.00 to $69.00 in a research note on Wednesday, March 31st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. MetLife presently has a consensus rating of “Buy” and an average price target of $62.00.
MetLife Company Profile
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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, 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.
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