Kerusso Capital Management LLC Increases Stake in MetLife, Inc. $MET

Key Points

• Kerusso Capital raised its stake in MetLife by 174.2% in Q4 to 52,191 shares (an additional 33,158 shares) worth $4.12 million, making MET about 1.9% of Kerusso’s holdings and its 25th-largest position.
• Sell-side analysts have a consensus rating of Moderate Buy with an average price target of $93.38 (1 Strong Buy, 10 Buy, 3 Hold), though several firms recently trimmed price targets.
• MetLife reported quarterly EPS of $2.49 (beating estimates by $0.15) and revenue up 27.6% year-over-year; the stock trades at a PE of 16.19 with a market cap of $49.6 billion and a 52-week range of $67.33–$83.85.

Kerusso Capital Management LLC raised its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 174.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,191 shares of the financial services provider's stock after buying an additional 33,158 shares during the quarter. MetLife comprises approximately 1.9% of Kerusso Capital Management LLC's holdings, making the stock its 25th largest position. Kerusso Capital Management LLC's holdings in MetLife were worth $4,120,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MET. Providence Capital Advisors LLC purchased a new position in shares of MetLife in the third quarter valued at $6,649,000. Thrivent Financial for Lutherans grew its holdings in shares of MetLife by 8.9% in the third quarter. Thrivent Financial for Lutherans now owns 1,176,469 shares of the financial services provider's stock valued at $96,905,000 after purchasing an additional 96,523 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of MetLife by 2.6% in the fourth quarter. Nordea Investment Management AB now owns 4,630,165 shares of the financial services provider's stock valued at $366,524,000 after purchasing an additional 117,545 shares in the last quarter. Varma Mutual Pension Insurance Co grew its holdings in shares of MetLife by 21.9% in the third quarter. Varma Mutual Pension Insurance Co now owns 137,956 shares of the financial services provider's stock valued at $11,363,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of MetLife by 256.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 62,662 shares of the financial services provider's stock valued at $5,161,000 after purchasing an additional 45,100 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MET shares. Barclays cut their target price on shares of MetLife from $92.00 to $89.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Weiss Ratings lowered shares of MetLife from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 9th. Bank of America lowered their price target on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Finally, Mizuho lowered their price target on MetLife from $100.00 to $93.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.38.

MetLife Stock Down 1.2%

Shares of MET opened at $76.07 on Friday. The company has a market cap of $49.60 billion, a PE ratio of 16.19, a P/E/G ratio of 0.68 and a beta of 0.74. The business has a fifty day moving average of $73.09 and a 200 day moving average of $76.71. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $83.85. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.15. The company had revenue of $52.44 billion during the quarter, compared to the consensus estimate of $31.43 billion. MetLife had a return on equity of 21.81% and a net margin of 4.38%.MetLife's revenue was up 27.6% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. On average, sell-side analysts expect that MetLife, Inc. will post 9.85 EPS for the current year.

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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