Mirae Asset Global Investments Co. Ltd. boosted its position in MetLife, Inc. (NYSE:MET – Get Rating) by 37.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,656 shares of the financial services provider’s stock after purchasing an additional 17,271 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MetLife were worth $4,474,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Scotia Capital Inc. lifted its position in shares of MetLife by 5.8% during the 1st quarter. Scotia Capital Inc. now owns 68,682 shares of the financial services provider’s stock valued at $4,827,000 after buying an additional 3,738 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of MetLife by 9.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 355,772 shares of the financial services provider’s stock valued at $25,004,000 after buying an additional 30,693 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of MetLife by 4.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 5,151 shares of the financial services provider’s stock valued at $362,000 after buying an additional 232 shares in the last quarter. Chesley Taft & Associates LLC lifted its position in shares of MetLife by 3.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 15,565 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 450 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of MetLife by 0.5% during the 1st quarter. DAVENPORT & Co LLC now owns 36,806 shares of the financial services provider’s stock valued at $2,587,000 after buying an additional 177 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MET has been the topic of several recent analyst reports. Morgan Stanley lifted 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. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Credit Suisse Group lifted their target price on MetLife from $68.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday. Wolfe Research raised MetLife from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $70.00 to $74.00 in a research note on Wednesday, June 22nd. Finally, Citigroup initiated coverage on MetLife in a research note on Monday, May 23rd. They set a “buy” rating and a $77.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.92.
MetLife Stock Performance
NYSE MET opened at $65.91 on Tuesday. The company has a market cap of $53.60 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.50 and a beta of 1.08. 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 business’s 50 day moving average price is $62.96 and its 200-day moving average price is $65.98. MetLife, Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $73.18.
MetLife announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 4th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
MetLife Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, August 8th. MetLife’s dividend payout ratio is currently 49.75%.
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.
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.