Treasurer of the State of North Carolina Boosts Stock Position in MetLife, Inc. (NYSE:MET)

Treasurer of the State of North Carolina lifted its stake in MetLife, Inc. (NYSE:MET) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 265,628 shares of the financial services provider’s stock after purchasing an additional 1,130 shares during the period. Treasurer of the State of North Carolina’s holdings in MetLife were worth $21,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. CX Institutional boosted its stake in MetLife by 15.9% during the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock valued at $5,568,000 after buying an additional 9,337 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 valued at $722,727,000 after buying an additional 4,606,748 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of MetLife by 27.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 2,940 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MetLife by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider’s stock worth $63,559,000 after acquiring an additional 12,723 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in MetLife in the fourth quarter valued at $259,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Up 0.2 %

Shares of NYSE:MET opened at $71.25 on Friday. The stock’s 50-day moving average is $80.32 and its 200 day moving average is $82.46. The company has a market cap of $48.54 billion, a PE ratio of 11.94, a P/E/G ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05.

MetLife (NYSE:MET) last posted its 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 net margin of 6.19% and a return on equity of 20.42%. Sell-side analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Piper Sandler lifted their price target on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on shares of MetLife from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday. Cowen reiterated a “buy” rating on shares of MetLife in a research report on Friday, March 7th. Finally, Morgan Stanley cut their price target on shares of MetLife from $109.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.46.

MetLife 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.