3,676 Shares in MetLife, Inc. (NYSE:MET) Bought by Evercore Wealth Management LLC

Evercore Wealth Management LLC bought a new position in shares of MetLife, Inc. (NYSE:METFree Report) in the fourth quarter, HoldingsChannel reports. The firm bought 3,676 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Connectus Wealth LLC boosted its position in shares of MetLife by 36.9% during the fourth quarter. Connectus Wealth LLC now owns 82,134 shares of the financial services provider’s stock worth $5,442,000 after acquiring an additional 22,158 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its position in shares of MetLife by 2.5% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 15,350 shares of the financial services provider’s stock worth $1,015,000 after acquiring an additional 380 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of MetLife by 115.2% during the fourth quarter. Schroder Investment Management Group now owns 243,051 shares of the financial services provider’s stock worth $16,073,000 after acquiring an additional 130,093 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in MetLife during the fourth quarter valued at $384,000. Finally, Vinva Investment Management Ltd lifted its position in MetLife by 19.2% during the fourth quarter. Vinva Investment Management Ltd now owns 22,838 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 3,684 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 0.3 %

MET stock opened at $70.29 on Tuesday. The company has a market capitalization of $49.98 billion, a PE ratio of 24.15, a P/E/G ratio of 0.59 and a beta of 1.12. MetLife, Inc. has a 12 month low of $52.97 and a 12 month high of $74.68. The firm’s 50-day moving average is $71.69 and its 200 day moving average is $69.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:METGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. On average, research analysts anticipate that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Monday, May 6th. This is an increase from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife declared that its board has approved a share repurchase plan on Wednesday, May 1st that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MET shares. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Wells Fargo & Company lowered their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Keefe, Bruyette & Woods lowered their price objective on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Morgan Stanley increased their price objective on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Argus increased their price objective on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.08.

Get Our Latest Stock Report on MetLife

Insider Buying and Selling

In related news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

MetLife Company Profile

(Free Report)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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.

Read More

Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife, Inc. (NYSE:METFree Report).

Institutional Ownership by Quarter for MetLife (NYSE:MET)

Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.