KLP Kapitalforvaltning AS Decreases Stake in MetLife, Inc. $MET

KLP Kapitalforvaltning AS reduced its stake in MetLife, Inc. (NYSE:MET) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,039 shares of the financial services provider’s stock after selling 7,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in MetLife were worth $17,528,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC raised its position in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the last quarter. Sound Income Strategies LLC raised its position in 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 buying an additional 142 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in MetLife during the 3rd quarter worth approximately $32,000. Albion Financial Group UT purchased a new position in MetLife during the 4th quarter worth approximately $32,000. Finally, JPL Wealth Management LLC purchased a new position in MetLife during the 3rd quarter worth approximately $33,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MET has been the subject of a number of recent research reports. Barclays reduced their price target on shares of MetLife from $92.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley reduced their price target on shares of MetLife from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on shares of MetLife from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Evercore set a $96.00 price objective on shares of MetLife in a research note on Thursday, April 9th. Finally, Bank of America dropped their price objective on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $93.38.

MetLife Price Performance

Shares of NYSE MET opened at $76.07 on Friday. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.68 and a beta of 0.74. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $83.85. The firm’s 50 day simple moving average is $73.09 and its 200-day simple moving average is $76.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. MetLife had a net margin of 4.38% and a return on equity of 21.81%. The business had revenue of $52.44 billion for the quarter, compared to analysts’ expectations of $31.43 billion. During the same quarter last year, the company earned $2.08 EPS. The business’s revenue was up 27.6% on a year-over-year basis. Analysts expect that MetLife, Inc. will post 9.85 EPS for the current year.

About MetLife

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.