MetLife, Inc. (NYSE:MET) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in MetLife, Inc. (NYSE:MET) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,781 shares of the financial services provider’s stock after acquiring an additional 1,190 shares during the period. Convergence Investment Partners LLC’s holdings in MetLife were worth $2,357,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MetLife by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock valued at $375,179,000 after acquiring an additional 68,579 shares in the last quarter. Nordea Investment Management AB raised its stake in MetLife by 16.8% in the fourth 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. Swedbank AB raised its stake in MetLife by 76.0% in the fourth quarter. Swedbank AB now owns 3,466,808 shares of the financial services provider’s stock valued at $283,862,000 after buying an additional 1,496,645 shares in the last quarter. Jennison Associates LLC raised its stake in MetLife by 3.6% in the fourth quarter. Jennison Associates LLC now owns 3,274,258 shares of the financial services provider’s stock valued at $268,096,000 after buying an additional 114,166 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in MetLife by 5.0% in the third quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider’s stock valued at $184,744,000 after buying an additional 105,762 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

Shares of MET opened at $82.31 on Wednesday. MetLife, Inc. has a twelve month low of $67.30 and a twelve month high of $89.05. The stock’s 50 day moving average is $83.41 and its two-hundred day moving average is $81.23. The firm has a market capitalization of $57.00 billion, a PE ratio of 13.79, a P/E/G ratio of 0.64 and a beta of 1.07. 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 (NYSE:MET) last announced its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. Research analysts anticipate that MetLife, Inc. will post 9.66 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.65%. MetLife’s payout ratio is 36.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company cut their price target on MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen raised their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods cut their price target on MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Barclays cut their target price on MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.17.

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.