MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 3,211 Shares of MetLife, Inc. (NYSE:MET)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in shares of MetLife, Inc. (NYSE:METGet Rating) by 0.5% during the 1st quarter, HoldingsChannel reports. The fund owned 591,359 shares of the financial services provider’s stock after selling 3,211 shares during the quarter. MetLife comprises approximately 3.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 2nd biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in MetLife were worth $42,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MET. MFA Wealth Advisors LLC purchased a new stake in MetLife during the 3rd quarter worth approximately $33,000. Voloridge Investment Management LLC acquired a new position in shares of MetLife in the 3rd quarter valued at $7,651,000. United Capital Financial Advisers LLC boosted its holdings in shares of MetLife by 5.9% in the 3rd quarter. United Capital Financial Advisers LLC now owns 17,638 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 990 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in MetLife by 17.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 48,437 shares of the financial services provider’s stock worth $2,990,000 after purchasing an additional 7,313 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in MetLife by 60.7% during the 3rd quarter. Janus Henderson Group PLC now owns 442,575 shares of the financial services provider’s stock worth $27,320,000 after purchasing an additional 167,147 shares during the period. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on MET. Wolfe Research upgraded shares of MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $74.00 in a research note on Wednesday. Citigroup initiated coverage on shares of MetLife in a report on Monday, May 23rd. They issued a “buy” rating and a $77.00 price target for the company. Barclays increased their price target on shares of MetLife from $76.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. JPMorgan Chase & Co. increased their price target on shares of MetLife from $69.00 to $75.00 in a report on Tuesday, April 5th. Finally, StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.45.

MET opened at $61.75 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $65.87 and its 200-day moving average is $66.28. The firm has a market capitalization of $50.22 billion, a P/E ratio of 8.00, a P/E/G ratio of 1.12 and a beta of 1.15. MetLife, Inc. has a 52-week low of $55.21 and a 52-week high of $73.18.

MetLife (NYSE:METGet Rating) last released its earnings results on Wednesday, May 4th. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.45. MetLife had a net margin of 9.63% and a return on equity of 12.04%. The firm had revenue of $17.72 billion during the quarter, compared to analyst estimates of $16.81 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts expect that MetLife, Inc. will post 7.56 earnings per share for the current fiscal year.

MetLife declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 10th were paid a dividend of $0.50 per share. This is a positive change from MetLife’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, May 9th. This represents a $2.00 annualized dividend and a yield of 3.24%. MetLife’s payout ratio is presently 25.91%.

About MetLife (Get Rating)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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