Ellis Investment Partners LLC purchased a new position in Metlife Inc (NYSE:MET) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,545 shares of the financial services provider’s stock, valued at approximately $35,000.
A number of other hedge funds have also bought and sold shares of MET. JNBA Financial Advisors purchased a new stake in Metlife in the fourth quarter worth $26,000. Bruderman Asset Management LLC purchased a new position in shares of Metlife during the fourth quarter valued at $27,000. Berman Capital Advisors LLC purchased a new position in shares of Metlife during the fourth quarter valued at $31,000. Executive Wealth Management LLC purchased a new position in shares of Metlife during the fourth quarter valued at $34,000. Finally, Country Trust Bank increased its stake in shares of Metlife by 1,052.6% during the fourth quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock valued at $36,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 77.77% of the company’s stock.
Shares of NYSE:MET remained flat at $$48.13 during trading on Wednesday. The stock had a trading volume of 4,680,624 shares, compared to its average volume of 5,518,179. Metlife Inc has a 1 year low of $37.76 and a 1 year high of $50.40. The stock has a market capitalization of $45.74 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.14 and a current ratio of 0.14.
Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.18. The firm had revenue of $15.45 billion during the quarter, compared to analysts’ expectations of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. Research analysts expect that Metlife Inc will post 5.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 7th will be given a dividend of $0.44 per share. This is a boost from Metlife’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Monday, May 6th. Metlife’s dividend payout ratio (DPR) is currently 32.65%.
Several brokerages have recently commented on MET. ValuEngine upgraded Metlife from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank raised their price objective on Metlife from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Sandler O’Neill downgraded Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, March 19th. UBS Group raised their price objective on Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $55.00 price objective on shares of Metlife in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.17.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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