Bank of New York Mellon Corp Has $711.60 Million Stake in MetLife, Inc. (NYSE:MET)

Bank of New York Mellon Corp lifted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,862,835 shares of the financial services provider's stock after purchasing an additional 36,177 shares during the period. Bank of New York Mellon Corp owned about 1.30% of MetLife worth $711,597,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of MetLife by 33.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,663,239 shares of the financial services provider's stock valued at $2,019,427,000 after purchasing an additional 6,213,923 shares during the period. Geode Capital Management LLC lifted its position in MetLife by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider's stock worth $973,901,000 after buying an additional 158,107 shares in the last quarter. Norges Bank acquired a new stake in MetLife during the fourth quarter valued at $730,716,000. Northern Trust Corp grew its stake in shares of MetLife by 15.7% in the 4th quarter. Northern Trust Corp now owns 7,052,202 shares of the financial services provider's stock valued at $577,434,000 after buying an additional 958,458 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of MetLife by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,434,737 shares of the financial services provider's stock valued at $526,869,000 after purchasing an additional 290,734 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

Analyst Upgrades and Downgrades

MET has been the topic of a number of analyst reports. Piper Sandler increased their price objective on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley upped their price objective on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their target price on shares of MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays increased their price target on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.67.

MetLife Price Performance

Shares of MET traded down $1.45 during trading hours on Monday, hitting $79.20. The stock had a trading volume of 2,495,461 shares, compared to its average volume of 3,367,654. The stock has a market capitalization of $53.17 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.68 and a beta of 0.85. The company's fifty day moving average is $78.74 and its two-hundred day moving average is $80.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.89% and a net margin of 6.08%. The business had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same period in the prior year, the firm posted $1.83 EPS. MetLife's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th were given a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, May 6th. This is a boost from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio (DPR) is presently 36.91%.

MetLife Company Profile

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.