Swedbank AB Purchases 316,859 Shares of MetLife, Inc. $MET

by · The Markets Daily

Swedbank AB boosted its position in MetLife, Inc. (NYSE:MET – Free Report) by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,702,087 shares of the financial services provider’s stock after purchasing an additional 316,859 shares during the quarter. Swedbank AB’s holdings in MetLife were worth $191,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife during the 4th quarter valued at about $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife during the fourth quarter worth about $31,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Up 1.7%

Shares of MET stock traded up $1.54 on Tuesday, hitting $92.00. 825,512 shares of the company’s stock traded hands, compared to its average volume of 3,768,649. The stock has a market capitalization of $59.20 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.68 and a beta of 0.78. The company’s fifty day simple moving average is $83.11 and its 200 day simple moving average is $78.31. MetLife, Inc. has a one year low of $67.33 and a one year high of $92.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that MetLife, Inc. will post 9.98 EPS for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were paid a $0.5925 dividend. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.6%. MetLife’s dividend payout ratio is presently 45.93%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen cut their price target on shares of MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Bank of America lowered their price objective on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. UBS Group lifted their price objective on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Finally, Barclays reiterated an “overweight” rating and issued a $94.00 target price on shares of MetLife in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.46.

Check Out Our Latest Report on MET

About MetLife

(Free Report)

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.

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