Caxton Associates LLP Raises Stock Holdings in MetLife, Inc. $MET

Key Points

• Caxton Associates LLP increased its MetLife stake by 154.7% in the first quarter, buying 14,844 additional shares and bringing its holdings to 24,438 shares worth about $1.73 million.
• Several Wall Street firms remain constructive on MetLife, with the stock holding a Moderate Buy consensus and an average price target of $100.50.
• MetLife reported Q1 earnings of $2.42 per share, beating estimates, and recently announced a quarterly dividend of $0.5925 per share, implying a 2.5% yield.

Caxton Associates LLP raised its stake in MetLife, Inc. (NYSE:MET - Free Report) by 154.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,438 shares of the financial services provider's stock after buying an additional 14,844 shares during the quarter. Caxton Associates LLP's holdings in MetLife were worth $1,728,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management lifted its holdings in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after acquiring an additional 212 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife in the 4th quarter valued at approximately $30,000. Sound Income Strategies LLC raised its position in MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife during the fourth quarter worth $31,000. Finally, Prosperity Bancshares Inc acquired a new position in MetLife during the fourth quarter worth $31,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on MetLife from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Piper Sandler increased their price objective on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Jefferies Financial Group upped their price target on MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Wells Fargo & Company increased their price target on shares of MetLife from $95.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. One investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.50.

MetLife Stock Performance

Shares of MET stock opened at $94.67 on Friday. The stock's 50-day moving average is $87.27 and its two-hundred day moving average is $79.55. 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 1 year low of $67.33 and a 1 year high of $94.86. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.72 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current year.

MetLife Dividend Announcement

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

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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