DRW Securities LLC Decreases Stock Position in MetLife, Inc. $MET

Key Points

• DRW Securities LLC has decreased its stake in MetLife, Inc. by 55.9%, reducing its holdings to 48,988 shares worth approximately $3.93 million.
• Despite recent decreases in its share price, MetLife reports a market cap of $54.14 billion and a P/E ratio of 13.80, indicating a favorable valuation compared to market standards.
• Analysts have raised MetLife's price target, with JPMorgan Chase & Co. adjusting their target from $86 to $95, reflecting a positive outlook on the company’s performance.

DRW Securities LLC cut its stake in MetLife, Inc. (NYSE:MET - Free Report) by 55.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,988 shares of the financial services provider's stock after selling 62,052 shares during the period. DRW Securities LLC's holdings in MetLife were worth $3,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ball & Co Wealth Management Inc. purchased a new position in MetLife in the fourth quarter valued at $25,000. North Capital Inc. purchased a new position in MetLife in the first quarter valued at $26,000. Quarry LP acquired a new stake in MetLife in the fourth quarter valued at $31,000. Motco raised its stake in MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after buying an additional 212 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in MetLife in the first quarter valued at $46,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of MET stock opened at $81.41 on Friday. The stock's 50-day moving average is $78.17 and its two-hundred day moving average is $78.41. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.73 and a beta of 0.85. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm had revenue of $17.34 billion for the quarter, compared to analysts' expectations of $18.58 billion. During the same period in the previous year, the business posted $2.28 EPS. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. MetLife's dividend payout ratio (DPR) is currently 38.47%.

Analysts Set New Price Targets

MET has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company restated an "overweight" rating and issued a $97.00 price target (up from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Barclays raised their price target on MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, UBS Group dropped their price objective on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and a consensus price target of $95.60.

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.

Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife, Inc. (NYSE:MET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.