MetLife, Inc. (NYSE:MET) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in MetLife, Inc. (NYSE:METGet Rating) by 65.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,486 shares of the financial services provider’s stock after purchasing an additional 24,390 shares during the period. Pacer Advisors Inc.’s holdings in MetLife were worth $4,321,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in MetLife in the fourth quarter valued at approximately $430,368,000. KBC Group NV boosted its stake in MetLife by 181.1% in the fourth quarter. KBC Group NV now owns 2,620,548 shares of the financial services provider’s stock valued at $163,758,000 after acquiring an additional 1,688,395 shares during the period. Nordea Investment Management AB boosted its stake in MetLife by 118.3% in the fourth quarter. Nordea Investment Management AB now owns 2,932,631 shares of the financial services provider’s stock valued at $183,729,000 after acquiring an additional 1,589,304 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in MetLife by 164.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,461,926 shares of the financial services provider’s stock valued at $153,846,000 after acquiring an additional 1,530,000 shares during the period. Finally, Marshall Wace LLP boosted its stake in MetLife by 228.6% in the fourth quarter. Marshall Wace LLP now owns 1,290,912 shares of the financial services provider’s stock valued at $80,668,000 after acquiring an additional 898,006 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

MET has been the subject of a number of research reports. Citigroup started coverage on MetLife in a research note on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price for the company. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Barclays boosted their price objective on MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. JPMorgan Chase & Co. boosted their price objective on MetLife from $69.00 to $75.00 in a research report on Tuesday, April 5th. Finally, Piper Sandler boosted their price objective on MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.09.

Shares of NYSE:MET opened at $61.75 on Thursday. MetLife, Inc. has a 12 month low of $55.21 and a 12 month high of $73.18. The stock has a market cap of $50.22 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.09 and a beta of 1.15. The stock’s 50 day moving average price is $65.87 and its 200 day moving average price is $66.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.14 and a quick ratio of 0.14.

MetLife (NYSE:METGet Rating) last announced its earnings results on Wednesday, May 4th. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. The firm had revenue of $17.72 billion for the quarter, compared to analysts’ expectations of $16.81 billion. MetLife had a return on equity of 12.04% and a net margin of 9.63%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, sell-side analysts expect that MetLife, Inc. will post 7.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 10th were issued a $0.50 dividend. The ex-dividend date was Monday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 3.24%. This is a boost from MetLife’s previous quarterly dividend of $0.48. MetLife’s dividend payout ratio is currently 25.91%.

MetLife declared that its board has initiated a stock buyback plan on Wednesday, May 4th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

MetLife Company Profile (Get Rating)

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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