Lazard Asset Management LLC Boosts Holdings in MetLife, Inc. $MET

Key Points

• Lazard Asset Management increased its MetLife stake by 803.5% in the first quarter, holding 667,594 shares worth approximately $47.2 million. Institutional investors collectively own 94.99% of MetLife’s outstanding stock.
• MetLife reported quarterly earnings of $2.42 per share, exceeding the $2.27 analyst consensus, while revenue rose 2.7% year over year. The company declared a quarterly dividend of $0.5925 per share, equal to a 2.5% annual yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $100.50, above the stock’s reported $95.21 price.

Lazard Asset Management LLC boosted its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 803.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 667,594 shares of the financial services provider's stock after purchasing an additional 593,705 shares during the period. Lazard Asset Management LLC owned approximately 0.10% of MetLife worth $47,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in MetLife during the fourth quarter worth about $639,986,000. Vanguard Group Inc. lifted its holdings in MetLife by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock valued at $5,727,518,000 after acquiring an additional 7,805,814 shares during the period. Pzena Investment Management LLC boosted its position in MetLife by 22.9% in 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of MetLife by 133.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,098,649 shares of the financial services provider's stock worth $219,136,000 after purchasing an additional 1,771,689 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of MetLife by 105.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider's stock worth $271,424,000 after purchasing an additional 1,695,563 shares during the period. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Price Performance

MetLife stock opened at $95.21 on Tuesday. The stock has a market capitalization of $61.26 billion, a P/E ratio of 18.45, a P/E/G ratio of 0.73 and a beta of 0.78. The company's fifty day moving average price is $87.55 and its 200 day moving average price is $79.64. 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 $96.00.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping 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 net margin of 4.66% and a return on equity of 22.60%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. As a group, equities research analysts anticipate that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore set a $96.00 target price on shares of MetLife in a research note on Thursday, April 9th. Weiss Ratings upgraded shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 15th. Piper Sandler increased their target price on shares of MetLife from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Morgan Stanley raised their target price on MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group upped their price target on MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.50.

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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