New Vernon Investment Management LLC Invests $331,000 in MetLife, Inc. (NYSE:MET)

New Vernon Investment Management LLC bought a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,042 shares of the financial services provider's stock, valued at approximately $331,000.

Other hedge funds have also recently modified their holdings of the company. Transce3nd LLC purchased a new position in shares of MetLife in the 4th quarter valued at $26,000. Retirement Wealth Solutions LLC purchased a new position in MetLife during the 4th quarter worth $32,000. Sierra Ocean LLC purchased a new position in MetLife during the 4th quarter worth $32,000. Graney & King LLC purchased a new position in MetLife during the 4th quarter worth $34,000. Finally, Values First Advisors Inc. purchased a new position in MetLife during the 4th quarter worth $36,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MET has been the topic of several analyst reports. BMO Capital Markets started coverage on shares of MetLife in a report on Thursday, January 23rd. They issued a "market perform" rating and a $97.00 target price on the stock. Cowen reiterated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. Morgan Stanley reduced their price objective on shares of MetLife from $109.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on shares of MetLife from $97.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Barclays reduced their price objective on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.46.

MetLife Trading Down 2.4 %

Shares of NYSE:MET traded down $1.81 during trading on Wednesday, reaching $74.61. The stock had a trading volume of 934,560 shares, compared to its average volume of 3,396,580. The business has a fifty day moving average price of $78.08 and a 200-day moving average price of $81.68. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The stock has a market cap of $50.83 billion, a P/E ratio of 12.50, a PEG ratio of 0.65 and a beta of 0.89. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. As a group, analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be given a $0.5675 dividend. This is a positive change from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Tuesday, May 6th. MetLife's dividend payout ratio (DPR) is 38.02%.

About MetLife

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.