Teachers Retirement System of The State of Kentucky lessened its holdings in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,472 shares of the financial services provider’s stock after selling 2,240 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MetLife were worth $3,617,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of MetLife in the 4th quarter worth $430,368,000. Bank of New York Mellon Corp raised its position in shares of MetLife by 93.3% in the 1st quarter. Bank of New York Mellon Corp now owns 11,393,164 shares of the financial services provider’s stock worth $800,713,000 after buying an additional 5,499,871 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of MetLife by 164.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,461,926 shares of the financial services provider’s stock worth $153,846,000 after buying an additional 1,530,000 shares during the period. Viking Global Investors LP purchased a new position in shares of MetLife in the 1st quarter worth $95,733,000. Finally, Envestnet Asset Management Inc. raised its position in shares of MetLife by 95.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,582,973 shares of the financial services provider’s stock worth $181,531,000 after buying an additional 1,258,042 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on MET. Barclays set a $75.00 price target on MetLife in a report on Tuesday, July 19th. JPMorgan Chase & Co. lowered their price target on MetLife from $75.00 to $74.00 in a report on Monday, July 11th. TheStreet upgraded MetLife from a “c+” rating to a “b-” rating in a research note on Thursday. Morgan Stanley raised their target price on MetLife from $79.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Finally, Wolfe Research upgraded MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the company from $70.00 to $74.00 in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.92.
Insiders Place Their Bets
MetLife Trading Down 0.9 %
NYSE MET opened at $65.08 on Monday. MetLife, Inc. has a twelve month low of $57.05 and a twelve month high of $73.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $52.92 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.49 and a beta of 1.05. The firm’s 50 day moving average price is $64.26 and its two-hundred day moving average price is $65.58.
MetLife Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, August 8th. MetLife’s payout ratio is 49.75%.
MetLife Company Profile
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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