Trust Co. of Toledo NA OH raised its position in shares of MetLife, Inc. (NYSE:MET) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,661 shares of the financial services provider’s stock after buying an additional 1,002 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in MetLife were worth $1,499,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hexavest Inc. purchased a new position in shares of MetLife in the 4th quarter worth approximately $25,000. Dimension Capital Management LLC purchased a new position in shares of MetLife in the 3rd quarter worth approximately $26,000. Reby Advisors LLC purchased a new position in shares of MetLife in the 4th quarter worth approximately $26,000. SOA Wealth Advisors LLC. purchased a new position in shares of MetLife in the 4th quarter worth approximately $26,000. Finally, Advisory Alpha LLC purchased a new position in shares of MetLife in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 74.44% of the company’s stock.
Shares of MET traded down $0.82 during trading hours on Thursday, hitting $60.96. The company had a trading volume of 102,953 shares, compared to its average volume of 5,935,438. The company has a market capitalization of $53.91 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21. MetLife, Inc. has a one year low of $29.18 and a one year high of $62.67. The company’s fifty day moving average price is $59.53 and its two-hundred day moving average price is $48.79.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, February 3rd. The financial services provider reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.50. MetLife had a return on equity of 8.17% and a net margin of 8.82%. The firm had revenue of $20.58 billion for the quarter, compared to the consensus estimate of $16.12 billion. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that MetLife, Inc. will post 5.65 earnings per share for the current year.
MetLife announced that its board has authorized a stock buyback plan on Friday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
MET has been the subject of a number of recent research reports. Argus lifted their target price on MetLife from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Royal Bank of Canada raised their price target on MetLife from $57.00 to $66.00 in a research note on Thursday, April 1st. Morgan Stanley raised their price target on MetLife from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Citigroup raised their price target on MetLife from $58.00 to $69.00 in a research note on Wednesday, March 31st. Finally, Barclays raised their price target on MetLife from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. MetLife presently has an average rating of “Buy” and an average target price of $57.46.
In other MetLife news, CFO John D. Mccallion sold 7,456 shares of the business’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $52.22, for a total transaction of $389,352.32. Following the sale, the chief financial officer now owns 38,977 shares in the company, valued at approximately $2,035,378.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.
MetLife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. 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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