MetLife, Inc. $MET Stake Cut by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in MetLife, Inc. (NYSE:MET) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,396 shares of the financial services provider’s stock after selling 10,679 shares during the quarter. QRG Capital Management Inc.’s holdings in MetLife were worth $1,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management lifted its position in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Sound Income Strategies LLC raised its stake in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in MetLife in the fourth quarter worth about $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife in the fourth quarter valued at approximately $31,000. 94.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MET has been the subject of several recent research reports. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. UBS Group boosted their price objective on MetLife from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Bank of America lowered their price objective on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company increased their target price on MetLife from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley boosted their price target on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.46.

MetLife Stock Performance

Shares of MET traded up $1.49 during mid-day trading on Tuesday, reaching $91.95. 490,338 shares of the company’s stock traded hands, compared to its average volume of 3,766,801. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The business’s 50-day moving average price is $83.11 and its 200-day moving average price is $78.31. The stock has a market capitalization of $59.16 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $92.27.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. Equities analysts predict that MetLife, Inc. will post 9.98 earnings per share for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were paid a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This is a positive change from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 annualized dividend and a dividend yield of 2.6%. MetLife’s dividend payout ratio (DPR) is currently 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.