Advisors Capital Management LLC Acquires 16,018 Shares of MetLife, Inc. $MET

Key Points

• Advisors Capital Management LLC increased its stake in MetLife (NYSE:MET) by 8%, adding 16,018 shares to hold 215,142 shares valued at about $16.98 million at the end of the quarter.
• MetLife beat quarterly EPS estimates ($2.49 vs. $2.34) with revenue up 27.6% year-over-year, and analysts maintain a consensus "Moderate Buy" rating with a $93.38 price target despite several firms trimming targets.

Advisors Capital Management LLC lifted its stake in MetLife, Inc. (NYSE:MET - Free Report) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,142 shares of the financial services provider's stock after purchasing an additional 16,018 shares during the period. Advisors Capital Management LLC's holdings in MetLife were worth $16,983,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MET. Vermillion & White Wealth Management Group LLC boosted its position in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after purchasing an additional 316 shares during the period. Sound Income Strategies LLC boosted 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 worth $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 worth $32,000. Albion Financial Group UT bought a new stake in MetLife during the fourth quarter valued at about $32,000. Finally, JPL Wealth Management LLC bought a new stake in MetLife during the third quarter valued at about $33,000. 94.99% of the stock is owned by institutional investors.

MetLife Price Performance

NYSE:MET opened at $77.66 on Monday. The business's 50-day moving average is $73.10 and its 200 day moving average is $76.60. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $83.85. The company has a market capitalization of $50.64 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.69 and a beta of 0.74. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.15. The business had revenue of $52.44 billion during the quarter, compared to analysts' expectations of $31.43 billion. MetLife had a return on equity of 21.81% and a net margin of 4.38%.The firm's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 9.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MET shares. Morgan Stanley dropped their price objective on MetLife from $101.00 to $93.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Wells Fargo & Company decreased their target price on MetLife from $93.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, April 10th. Bank of America dropped their price target on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Barclays reduced their price objective on shares of MetLife from $92.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.38.

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.

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