Dodge & Cox Buys Shares of 41,061,674 Metlife Inc (MET)
Dodge & Cox purchased a new position in Metlife Inc (NYSE:MET) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 41,061,674 shares of the company’s stock, valued at approximately $2,212,814,000. Metlife makes up about 2.0% of Dodge & Cox’s holdings, making the stock its 17th largest position.
A number of other hedge funds have also modified their holdings of MET. State Street Corp boosted its stake in Metlife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the company’s stock valued at $2,605,045,000 after buying an additional 4,003,013 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Metlife by 2.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 29,549,210 shares of the company’s stock valued at $1,312,871,000 after buying an additional 604,319 shares during the period. Franklin Resources Inc. boosted its stake in Metlife by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 25,129,330 shares of the company’s stock valued at $1,354,219,000 after buying an additional 1,485,749 shares during the period. BlackRock Fund Advisors boosted its stake in Metlife by 4.4% in the third quarter. BlackRock Fund Advisors now owns 12,284,048 shares of the company’s stock valued at $545,780,000 after buying an additional 519,902 shares during the period. Finally, BlackRock Group LTD boosted its stake in Metlife by 0.9% in the third quarter. BlackRock Group LTD now owns 10,580,739 shares of the company’s stock valued at $470,103,000 after buying an additional 92,266 shares during the period. Hedge funds and other institutional investors own 74.92% of the company’s stock.
Shares of Metlife Inc (NYSE:MET) traded down 0.13% during trading on Monday, hitting $53.29. 1,843,370 shares of the stock were exchanged. The stock has a market cap of $57.94 billion, a P/E ratio of 84.59 and a beta of 1.65. The stock has a 50-day moving average of $53.40 and a 200 day moving average of $51.04. Metlife Inc has a 12-month low of $36.17 and a 12-month high of $58.09.
Metlife (NYSE:MET) last released its earnings results on Wednesday, February 1st. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.34 by $0.06. Metlife had a net margin of 1.30% and a return on equity of 7.17%. The business had revenue of $12.08 billion for the quarter, compared to the consensus estimate of $17.34 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was down 29.1% on a year-over-year basis. Equities analysts predict that Metlife Inc will post $5.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, February 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.60 annualized dividend and a yield of 3.00%. Metlife’s payout ratio is 262.30%.
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MET has been the subject of several recent analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $65.00 target price on shares of Metlife in a research note on Sunday, February 5th. Standpoint Research cut shares of Metlife from a “buy” rating to a “hold” rating in a research note on Friday, December 9th. Citigroup Inc restated a “focus list” rating on shares of Metlife in a research note on Tuesday, February 21st. TheStreet cut shares of Metlife from a “b-” rating to a “c” rating in a research note on Friday, February 24th. Finally, Bank of America Corp cut shares of Metlife from a “buy” rating to a “neutral” rating and raised their target price for the stock from $54.20 to $54.83 in a research note on Monday, March 6th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Metlife has an average rating of “Buy” and an average price target of $54.38.
In other Metlife news, EVP Peter M. Carlson sold 23,636 shares of the business’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $54.32, for a total transaction of $1,283,907.52. Following the completion of the sale, the executive vice president now owns 39,914 shares in the company, valued at $2,168,128.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James M. Kilts bought 2,795 shares of the stock in a transaction on Wednesday, March 1st. The shares were acquired at an average price of $54.17 per share, with a total value of $151,405.15. Following the purchase, the director now owns 41,951 shares of the company’s stock, valued at $2,272,485.67. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.
Metlife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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