Landsberg Bennett & Dubbaneh LLC boosted its position in shares of MetLife, Inc. (NYSE:MET) by 22.7% in the first quarter, Holdings Channel reports. The firm owned 6,245 shares of the financial services provider’s stock after purchasing an additional 1,157 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in MetLife were worth $385,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Hexavest Inc. acquired a new position in shares of MetLife during the fourth quarter worth about $25,000. Dimension Capital Management LLC bought a new position in shares of MetLife during the third quarter valued at $26,000. Reby Advisors LLC acquired a new stake in shares of MetLife during the fourth quarter worth $26,000. SOA Wealth Advisors LLC. bought a new stake in MetLife in the 4th quarter valued at about $26,000. Finally, Cordasco Financial Network bought a new stake in shares of MetLife during the first quarter worth about $30,000. Institutional investors own 74.44% of the company’s stock.
MET opened at $61.90 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.15 and a quick ratio of 0.15. MetLife, Inc. has a 12-month low of $29.18 and a 12-month high of $63.60. The firm’s fifty day moving average price is $61.06 and its 200 day moving average price is $50.68. The stock has a market capitalization of $54.74 billion, a PE ratio of 10.16, a P/E/G ratio of 1.98 and a beta of 1.35.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, February 3rd. The financial services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.53 by $0.50. MetLife had a net margin of 8.82% and a return on equity of 8.17%. The business had revenue of $20.58 billion during the quarter, compared to analyst estimates of $16.12 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts forecast that MetLife, Inc. will post 5.65 earnings per share for the current fiscal year.
In related news, CFO John D. Mccallion sold 7,456 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $52.22, for a total value of $389,352.32. Following the sale, the chief financial officer now directly owns 38,977 shares in the company, valued at approximately $2,035,378.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
A number of brokerages recently commented on MET. Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and upped their target price for the company from $45.00 to $52.00 in a report on Wednesday, January 6th. Morgan Stanley raised their target price on MetLife from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. UBS Group initiated coverage on MetLife in a research note on Tuesday. They issued a “buy” rating and a $72.00 price target for the company. Royal Bank of Canada increased their target price on MetLife from $57.00 to $66.00 in a research report on Thursday, April 1st. Finally, Barclays raised their price target on MetLife from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $59.14.
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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