CI Investments Inc. Grows Stake in MetLife, Inc. (NYSE:MET)

CI Investments Inc. raised its stake in MetLife, Inc. (NYSE:METGet Rating) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,752 shares of the financial services provider’s stock after purchasing an additional 5,858 shares during the quarter. CI Investments Inc.’s holdings in MetLife were worth $12,282,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MET. State Street Corp grew its stake in MetLife by 0.7% in the fourth quarter. State Street Corp now owns 36,281,345 shares of the financial services provider’s stock worth $2,267,221,000 after purchasing an additional 250,932 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MetLife by 93.3% in the first quarter. Bank of New York Mellon Corp now owns 11,393,164 shares of the financial services provider’s stock valued at $800,713,000 after buying an additional 5,499,871 shares in the last quarter. Norges Bank purchased a new position in MetLife during the 4th quarter worth approximately $430,368,000. Invesco Ltd. grew its position in MetLife by 3.6% during the 4th quarter. Invesco Ltd. now owns 5,944,602 shares of the financial services provider’s stock worth $371,478,000 after purchasing an additional 208,333 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of MetLife by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,724,776 shares of the financial services provider’s stock valued at $232,762,000 after acquiring an additional 48,072 shares in the last quarter. 86.53% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Up 0.8 %

Shares of NYSE:MET opened at $64.84 on Friday. MetLife, Inc. has a 12 month low of $57.05 and a 12 month high of $73.18. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $63.52 and its 200 day simple moving average is $65.82. The firm has a market cap of $52.73 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.49 and a beta of 1.08.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, August 8th. MetLife’s dividend payout ratio (DPR) is presently 49.75%.

Insider Activity

In other MetLife news, EVP Steven J. Goulart sold 4,060 shares of MetLife stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $67.60, for a total value of $274,456.00. Following the completion of the sale, the executive vice president now owns 55,299 shares in the company, valued at approximately $3,738,212.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MET has been the subject of a number of research analyst reports. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Barclays set a $75.00 price target on shares of MetLife in a research note on Tuesday, July 19th. Wolfe Research raised shares of MetLife from a “market perform” rating to an “outperform” rating and increased their price target for the company from $70.00 to $74.00 in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. decreased their price target on shares of MetLife from $75.00 to $74.00 in a research note on Monday, July 11th. Finally, TheStreet cut shares of MetLife from a “b” rating to a “c+” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.92.

About MetLife

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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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