Dynamic Technology Lab Private Ltd Invests $1.53 Million in MetLife, Inc. $MET

Key Points

• Dynamic Technology Lab Private Ltd opened a new position in MetLife during the fourth quarter, buying 19,356 shares valued at about $1.53 million.
• MetLife reported Q1 earnings of $2.42 per share, beating analyst estimates, while revenue rose 2.7% year over year even though it came in below expectations.
• The company raised its quarterly dividend to $0.5925 per share, bringing the annualized payout to $2.37 and the dividend yield to about 2.7%.

Dynamic Technology Lab Private Ltd purchased a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,356 shares of the financial services provider's stock, valued at approximately $1,528,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of MetLife by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock worth $5,727,518,000 after purchasing an additional 7,805,814 shares during the period. Dodge & Cox grew its holdings in shares of MetLife by 0.9% during the 3rd quarter. Dodge & Cox now owns 53,659,664 shares of the financial services provider's stock worth $4,419,947,000 after purchasing an additional 477,783 shares during the period. Wellington Management Group LLP grew its holdings in shares of MetLife by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,572,807 shares of the financial services provider's stock worth $1,035,622,000 after purchasing an additional 180,683 shares during the period. Pzena Investment Management LLC grew its holdings in shares of MetLife by 22.9% during the 4th quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider's stock worth $938,071,000 after purchasing an additional 2,211,315 shares during the period. Finally, Norges Bank purchased a new position in shares of MetLife during the 4th quarter worth $639,986,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of MetLife stock opened at $88.69 on Friday. The business has a 50-day moving average of $79.55 and a 200 day moving average of $77.40. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $89.44. The stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last announced its 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. The company had revenue of $14.18 billion during the quarter, compared to analysts' expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. As a group, sell-side analysts forecast that MetLife, Inc. will post 9.98 earnings per share for the current year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were given a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a yield of 2.7%. This is an increase from MetLife's previous quarterly dividend of $0.57. MetLife's dividend payout ratio is 45.93%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their price target on MetLife from $91.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. Barclays raised their target price on MetLife from $89.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. UBS Group raised their target price on MetLife from $98.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Piper Sandler raised their target price on MetLife from $81.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Finally, Evercore set a $96.00 target price on MetLife in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, MetLife currently has an average rating of "Moderate Buy" and a consensus price target of $95.31.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife expanded its settlement solutions business with a new deferred-payment offering for non-physical injury claims, suggesting continued product innovation and growth opportunities in a specialized insurance segment. MetLife Broadens Settlement Solutions Portfolio With NQA-FA
• Positive Sentiment: Analysts continue to view MetLife favorably, with a consensus recommendation of “Moderate Buy,” which can help reinforce investor confidence in the stock. MetLife, Inc. NYSE: MET Given Consensus Recommendation of "Moderate Buy" by Analysts

About MetLife

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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