Entropy Technologies LP Purchases 118,064 Shares of MetLife, Inc. $MET

Entropy Technologies LP boosted its position in MetLife, Inc. (NYSE:MET) by 157.6% during the first quarter, HoldingsChannel reports. The fund owned 192,996 shares of the financial services provider’s stock after buying an additional 118,064 shares during the quarter. Entropy Technologies LP’s holdings in MetLife were worth $13,649,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC increased its stake in shares of MetLife by 0.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC grew its stake in MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after buying an additional 135 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in MetLife by 2.4% during the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 136 shares during the period. Trust Co. of Toledo NA OH lifted its position in shares of MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock worth $2,402,000 after acquiring an additional 138 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in shares of MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MET shares. Keefe, Bruyette & Woods raised their target price on MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Evercore set a $96.00 price target on shares of MetLife in a report on Thursday, April 9th. Mizuho boosted their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Piper Sandler upped 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, Atlantic Securities set a $103.00 target price on shares of MetLife in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

MetLife Stock Up 2.3%

Shares of NYSE MET opened at $94.67 on Friday. The business has a 50-day moving average of $87.27 and a 200-day moving average of $79.55. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.71 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $94.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. Sell-side analysts expect that MetLife, Inc. will post 9.9 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s payout ratio is presently 45.93%.

MetLife Profile

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.