Vanguard Group Inc. raised its holdings in MetLife, Inc. (NYSE:MET – Get Rating) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,252,623 shares of the financial services provider’s stock after buying an additional 300,898 shares during the period. Vanguard Group Inc. owned about 7.04% of MetLife worth $4,023,714,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. New England Professional Planning Group Inc. bought a new stake in MetLife in the first quarter valued at approximately $602,000. Riverview Trust Co bought a new stake in MetLife in the first quarter valued at approximately $36,000. Stonebridge Capital Advisors LLC raised its stake in MetLife by 91.1% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 535 shares of the financial services provider’s stock valued at $33,000 after buying an additional 255 shares during the period. Cornerstone Advisory LLC bought a new stake in MetLife in the fourth quarter valued at approximately $36,000. Finally, Sandy Spring Bank grew its position in shares of MetLife by 51.4% in the first quarter. Sandy Spring Bank now owns 680 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 231 shares during the last quarter. Institutional investors own 86.53% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on MET shares. Wolfe Research raised MetLife from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $74.00 in a research report on Wednesday, June 22nd. Barclays set a $75.00 target price on MetLife in a research report on Tuesday, July 19th. TheStreet downgraded MetLife from a “b” rating to a “c+” rating in a research report on Wednesday, August 3rd. Evercore ISI upped their target price on MetLife to $81.00 in a research report on Tuesday, August 9th. Finally, Citigroup started coverage on MetLife in a research report on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.92.
Insider Buying and Selling at MetLife
MetLife Trading Up 1.0 %
Shares of NYSE:MET opened at $66.82 on Friday. The company has a market capitalization of $54.34 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.49 and a beta of 1.05. MetLife, Inc. has a 1 year low of $57.05 and a 1 year high of $73.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.13 and a quick ratio of 0.13. The business’s 50 day simple moving average is $63.81 and its 200 day simple moving average is $65.62.
MetLife Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, August 8th. MetLife’s dividend payout ratio is presently 49.75%.
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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