Glenmede Trust Co. NA Purchases 10,712 Shares of MetLife, Inc. $MET

Glenmede Trust Co. NA lifted its position in MetLife, Inc. (NYSE:MET) by 31.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,958 shares of the financial services provider’s stock after purchasing an additional 10,712 shares during the quarter. Glenmede Trust Co. NA’s holdings in MetLife were worth $3,179,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Commonwealth Retirement Investments LLC boosted its stake in MetLife by 0.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after buying an additional 131 shares in the last quarter. CreativeOne Wealth LLC grew its position in MetLife by 1.3% during the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after acquiring an additional 135 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of MetLife by 2.4% during the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 136 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in shares of MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 140 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of MetLife by 5.1% in the 4th quarter. Cornerstone Wealth Group LLC now owns 2,931 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 141 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MET. Mizuho upped their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Jefferies Financial Group upped their price target on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Morgan Stanley boosted their target price on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price on MetLife from $96.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

MetLife Stock Down 0.1%

Shares of NYSE MET opened at $96.20 on Wednesday. The firm’s fifty day moving average is $89.18 and its 200 day moving average is $80.41. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $97.80. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a market cap of $61.90 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 0.74 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 EPS. On average, equities research analysts expect that MetLife, Inc. will post 9.89 earnings per share for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio is 45.93%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.