Metlife Inc (NYSE:MET) Shares Acquired by Covington Capital Management

Covington Capital Management increased its stake in shares of Metlife Inc (NYSE:MET) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,136 shares of the financial services provider’s stock after buying an additional 340 shares during the quarter. Covington Capital Management’s holdings in Metlife were worth $415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Metlife by 1.6% during the fourth quarter. FMR LLC now owns 34,976,649 shares of the financial services provider’s stock valued at $1,782,760,000 after buying an additional 554,242 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Metlife by 28.5% in the fourth quarter. AQR Capital Management LLC now owns 8,824,066 shares of the financial services provider’s stock valued at $449,586,000 after purchasing an additional 1,959,431 shares during the last quarter. AJO LP boosted its holdings in Metlife by 26.2% in the fourth quarter. AJO LP now owns 3,682,448 shares of the financial services provider’s stock valued at $187,693,000 after purchasing an additional 765,110 shares during the last quarter. Jennison Associates LLC boosted its holdings in Metlife by 2.6% in the fourth quarter. Jennison Associates LLC now owns 3,527,868 shares of the financial services provider’s stock valued at $179,815,000 after purchasing an additional 88,853 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Metlife by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,413,384 shares of the financial services provider’s stock valued at $173,980,000 after purchasing an additional 30,290 shares during the last quarter. 75.47% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have commented on the stock. Citigroup raised shares of Metlife from a “sell” rating to a “neutral” rating and lowered their price target for the company from $46.00 to $32.00 in a report on Monday, March 16th. Morgan Stanley lowered their price target on shares of Metlife from $60.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Royal Bank of Canada lowered their price target on shares of Metlife from to in a report on Friday, March 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a report on Monday, January 6th. Finally, Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.80.

In other Metlife news, EVP Steven J. Goulart sold 14,200 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $51.60, for a total value of $732,720.00. Following the completion of the transaction, the executive vice president now owns 127,130 shares in the company, valued at $6,559,908. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Shares of Metlife stock opened at $29.74 on Thursday. The firm has a 50-day simple moving average of $42.02 and a two-hundred day simple moving average of $47.18. The company has a market cap of $25.29 billion, a P/E ratio of 4.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.09. Metlife Inc has a fifty-two week low of $22.85 and a fifty-two week high of $53.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.14 and a current ratio of 0.14.

Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.58. The business had revenue of $18.15 billion during the quarter, compared to the consensus estimate of $16.82 billion. Metlife had a net margin of 8.39% and a return on equity of 9.14%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Equities research analysts forecast that Metlife Inc will post 6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, February 4th were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.92%. Metlife’s dividend payout ratio (DPR) is currently 28.81%.

About Metlife

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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