MetLife, Inc. $MET Shares Sold by Algebris UK Ltd.

Algebris UK Ltd. reduced its stake in MetLife, Inc. (NYSE:MET) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418,130 shares of the financial services provider’s stock after selling 56,761 shares during the period. MetLife makes up approximately 1.6% of Algebris UK Ltd.’s portfolio, making the stock its 16th biggest position. Algebris UK Ltd.’s holdings in MetLife were worth $33,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Sound Income Strategies LLC raised its holdings in MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new stake in MetLife in the 3rd quarter valued at about $32,000. Finally, Albion Financial Group UT purchased a new stake in MetLife in the 4th quarter valued at about $32,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Up 1.7%

Shares of NYSE:MET opened at $82.47 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $53.06 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78. The firm’s 50-day moving average is $74.50 and its two-hundred day moving average is $76.59. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $83.85.

MetLife (NYSE:MET) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. Analysts predict that MetLife, Inc. will post 9.92 EPS for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 12th. MetLife’s payout ratio is currently 45.93%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MET. Weiss Ratings upgraded shares of MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $87.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Barclays boosted their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.15.

MetLife Company 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.