ABC Arbitrage SA Has $2.05 Million Stake in MetLife, Inc. $MET

ABC Arbitrage SA grew its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 924.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,991 shares of the financial services provider's stock after purchasing an additional 26,160 shares during the period. ABC Arbitrage SA's holdings in MetLife were worth $2,050,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MET. AMG National Trust Bank grew its stake in MetLife by 8.8% during the first quarter. AMG National Trust Bank now owns 3,096 shares of the financial services provider's stock worth $219,000 after buying an additional 250 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of MetLife by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 642,825 shares of the financial services provider's stock worth $45,461,000 after acquiring an additional 20,036 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in MetLife by 25.4% in the first quarter. Chicago Partners Investment Group LLC now owns 9,035 shares of the financial services provider's stock valued at $695,000 after acquiring an additional 1,830 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in MetLife by 16.9% during the first quarter. J. Safra Sarasin Holding AG now owns 14,054 shares of the financial services provider's stock worth $993,000 after purchasing an additional 2,030 shares during the last quarter. Finally, Persium Advisors LLC boosted its holdings in shares of MetLife by 11.1% in the 1st quarter. Persium Advisors LLC now owns 11,674 shares of the financial services provider's stock valued at $826,000 after purchasing an additional 1,166 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Up 1.5%

MetLife stock opened at $93.04 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $93.16. The firm has a 50 day moving average price of $84.69 and a two-hundred day moving average price of $78.71. The firm has a market cap of $59.86 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.69 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $19.49 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that MetLife, Inc. will post 9.97 EPS for the current year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife's dividend payout ratio is presently 45.93%.

Analyst Ratings Changes

Several brokerages have commented on MET. Piper Sandler boosted their target price on MetLife from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Weiss Ratings raised shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Evercore set a $96.00 price objective on MetLife in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods lifted their price target on MetLife from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.23.

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.

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