Havemeyer Place LP Makes New Investment in MetLife, Inc. $MET

Havemeyer Place LP acquired a new position in MetLife, Inc. (NYSE:MET) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,484 shares of the financial services provider’s stock, valued at approximately $1,538,000.

A number of other hedge funds also recently modified their holdings of MET. Activest Wealth Management lifted its position 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 worth $25,000 after acquiring an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Sound Income Strategies LLC lifted its position in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the period. Foster Dykema Cabot & Partners LLC bought a new stake in shares of MetLife in the 3rd quarter worth approximately $32,000. Finally, Albion Financial Group UT bought a new stake in shares of MetLife in the 4th quarter worth approximately $32,000. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $84.61 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $54.44 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. MetLife, Inc. has a one year low of $67.33 and a one year high of $85.29. The business has a 50 day simple moving average of $77.84 and a 200 day simple moving average of $77.00.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. On average, sell-side analysts forecast that MetLife, Inc. will post 9.96 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, May 12th. This is a positive change from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio is presently 45.93%.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen reduced their price objective on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Wells Fargo & Company raised their price objective on MetLife from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Piper Sandler raised their target price on MetLife from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Bank of America cut their target price on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. 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. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $95.31.

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.