MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Boosts Stock Position in MetLife, Inc. (NYSE:MET)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in MetLife, Inc. (NYSE:MET) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 771,423 shares of the financial services provider’s stock after purchasing an additional 29,121 shares during the period. MetLife makes up about 2.1% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 12th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in MetLife were worth $57,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Sherbrooke Park Advisers LLC acquired a new position in MetLife in the third quarter valued at approximately $474,000. Gotham Asset Management LLC lifted its stake in MetLife by 325.8% during the third quarter. Gotham Asset Management LLC now owns 33,160 shares of the financial services provider’s stock worth $2,086,000 after purchasing an additional 25,373 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in MetLife during the third quarter worth $31,455,000. United Services Automobile Association lifted its stake in MetLife by 16.5% during the third quarter. United Services Automobile Association now owns 17,202 shares of the financial services provider’s stock worth $1,082,000 after purchasing an additional 2,433 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in MetLife by 66.5% during the third quarter. Lazard Asset Management LLC now owns 99,483 shares of the financial services provider’s stock worth $6,258,000 after purchasing an additional 39,719 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MET shares. Wells Fargo & Company decreased their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Morgan Stanley upped their price target on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group cut their price objective on MetLife from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. upped their price objective on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus price target of $80.23.

MetLife Stock Up 0.2 %

NYSE:MET traded up $0.16 during trading hours on Tuesday, hitting $70.04. The company’s stock had a trading volume of 3,401,264 shares, compared to its average volume of 3,394,682. The stock has a market capitalization of $49.81 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. The stock has a fifty day moving average of $71.26 and a 200-day moving average of $70.18. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. MetLife, Inc. has a 52-week low of $56.13 and a 52-week high of $74.68.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. MetLife’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.52 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post 8.62 earnings per share for the current year.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.545 per share. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.11%. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

MetLife declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 1st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.