Swiss National Bank Boosts Holdings in MetLife, Inc. $MET

Swiss National Bank raised its position in MetLife, Inc. (NYSE:METFree Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,643,600 shares of the financial services provider’s stock after purchasing an additional 94,500 shares during the quarter. Swiss National Bank’s holdings in MetLife were worth $116,235,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MET. Activest Wealth Management increased its stake in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares during the period. Sound Income Strategies LLC grew its holdings in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in MetLife in the 4th quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the 4th quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in MetLife in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

MetLife Trading Down 1.1%

MetLife stock opened at $93.00 on Tuesday. The stock has a 50-day moving average price of $86.11 and a 200 day moving average price of $79.16. The company has a market capitalization of $59.84 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $94.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:METGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $2.27 by $0.15. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. Sell-side analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Dividend Announcement

The firm also recently announced 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 presently 45.93%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley increased their price objective on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Barclays increased their price target on MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Evercore set a $96.00 price objective on MetLife in a report on Thursday, April 9th. Piper Sandler increased their target price on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Mizuho raised their target price on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.

View Our Latest Report on MET

About MetLife

(Free Report)

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.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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