13,909 Shares of MetLife, Inc. $MET Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new position in MetLife, Inc. (NYSE:MET) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,909 shares of the financial services provider’s stock, valued at approximately $1,324,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of MetLife by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 37,516 shares of the financial services provider’s stock worth $3,540,000 after purchasing an additional 2,322 shares in the last quarter. StoneRidge PMG Advisors LLC purchased a new position in shares of MetLife in the 3rd quarter worth about $590,000. Beverly Hills Private Wealth LLC boosted its stake in MetLife by 20.5% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 3,124 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 532 shares in the last quarter. Bryn Mawr Trust Advisors LLC bought a new position in MetLife in the 3rd quarter worth about $210,000. Finally, Carret Asset Management LLC grew its position in MetLife by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 52,091 shares of the financial services provider’s stock valued at $4,905,000 after purchasing an additional 181 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Performance

Shares of NYSE MET opened at $102.97 on Thursday. The firm’s 50-day moving average price is $98.57 and its 200-day moving average price is $86.65. The company has a quick ratio of 0.20, a current ratio of 0.21 and a debt-to-equity ratio of 0.65. The company has a market cap of $64.71 billion, a PE ratio of 13.43, a PEG ratio of 0.97 and a beta of 0.79. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $106.72.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.01. The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $19.86 billion. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. As a group, analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, August 5th that allows the company to repurchase $3 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. MetLife’s dividend payout ratio is 30.90%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of MetLife from $97.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Jefferies Financial Group increased their price target on shares of MetLife from $103.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 10th. Mizuho set a $112.00 price target on shares of MetLife in a research report on Monday. Atlantic Securities set a $103.00 price objective on shares of MetLife in a report on Wednesday, July 15th. Finally, Argus boosted their price objective on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

About MetLife

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.