Flputnam Investment Management Co. Makes New Investment in MetLife, Inc. (NYSE:MET)

Flputnam Investment Management Co. purchased a new stake in MetLife, Inc. (NYSE:MET) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 4,294 shares of the financial services provider’s stock, valued at approximately $284,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FWL Investment Management LLC bought a new position in shares of MetLife during the fourth quarter valued at approximately $26,000. Studio Investment Management LLC acquired a new position in MetLife during the 4th quarter valued at approximately $29,000. Planned Solutions Inc. bought a new position in MetLife during the 4th quarter worth $28,000. Eagle Bay Advisors LLC acquired a new stake in MetLife in the second quarter worth $28,000. Finally, Quintet Private Bank Europe S.A. bought a new stake in MetLife in the third quarter valued at $28,000. Institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 1.5 %

MetLife stock opened at $69.95 on Friday. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68. The firm’s 50 day moving average price is $71.05 and its two-hundred day moving average price is $66.70. The firm has a market cap of $50.58 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The company had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. On average, research analysts predict that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Insider Transactions at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now owns 57,768 shares in the company, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MET. The Goldman Sachs Group raised shares of MetLife from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $80.00 in a report on Monday, January 8th. Morgan Stanley raised their price target on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, UBS Group cut their target price on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.23.

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.