TD Asset Management Inc Sells 7,236 Shares of MetLife, Inc. $MET

by · The Cerbat Gem

TD Asset Management Inc decreased its position in shares of MetLife, Inc. (NYSE:MET – Free Report) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,367 shares of the financial services provider’s stock after selling 7,236 shares during the quarter. TD Asset Management Inc owned about 0.12% of MetLife worth $61,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Providence Capital Advisors LLC purchased a new stake in shares of MetLife during the third quarter valued at about $6,649,000. Nordea Investment Management AB lifted its position in shares of MetLife by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 4,630,165 shares of the financial services provider’s stock valued at $366,524,000 after buying an additional 117,545 shares during the last quarter. Varma Mutual Pension Insurance Co lifted its position in shares of MetLife by 21.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 137,956 shares of the financial services provider’s stock valued at $11,363,000 after buying an additional 24,800 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of MetLife by 6.5% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 187,358 shares of the financial services provider’s stock valued at $15,433,000 after buying an additional 11,469 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of MetLife during the third quarter valued at about $8,091,000. Institutional investors own 94.99% of the company’s stock.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. UBS Group increased their price target on shares of MetLife from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Mizuho set a $95.00 price objective on shares of MetLife in a report on Friday, May 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of MetLife from $87.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $95.31.

Check Out Our Latest Research Report on MetLife

MetLife Price Performance

Shares of NYSE:MET opened at $84.61 on Friday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $85.29. The company’s 50 day moving average is $77.84 and its 200 day moving average is $77.00. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a market cap of $54.44 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78.

MetLife (NYSE:MET – Get Free Report) last issued 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 company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the prior year, the company earned $1.96 EPS. MetLife’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that MetLife, Inc. will post 9.96 EPS for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th will be issued a $0.5925 dividend. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 12th. This represents a $2.37 annualized dividend and a yield of 2.8%. MetLife’s dividend payout ratio is currently 45.93%.

MetLife Company Profile

(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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