Edgestream Partners L.P. Raises Holdings in MetLife, Inc. $MET

Edgestream Partners L.P. boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 3,709.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,398 shares of the financial services provider’s stock after buying an additional 98,736 shares during the period. Edgestream Partners L.P.’s holdings in MetLife were worth $7,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Activest Wealth Management increased its holdings in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares during the period. Sound Income Strategies LLC lifted its stake in shares of MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in MetLife during the fourth quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in MetLife in the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new position in MetLife in the fourth quarter valued at about $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 0.1%

MetLife stock opened at $97.17 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market cap of $62.52 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. The stock has a 50-day moving average of $88.43 and a two-hundred day moving average of $80.02. MetLife, Inc. has a one year low of $67.33 and a one year high of $97.80.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that MetLife, Inc. will post 9.89 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is currently 45.93%.

Analyst Ratings Changes

Several analysts have commented on MET shares. Mizuho increased their price target on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $96.00 to $106.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Evercore set a $96.00 price objective on shares of MetLife in a research note on Thursday, April 9th. Wells Fargo & Company increased their target price on shares of MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Piper Sandler raised their target price on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.50.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.