MetLife, Inc. $MET Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in MetLife by 5.0%, acquiring an additional 11,000 shares during the second quarter, bringing their total to 230,939 shares worth approximately $18.57 million.
• Brokerage firm Wells Fargo & Company raised MetLife's price objective from $95.00 to $96.00 and rated the company as "overweight," while multiple analysts have given the stock a "Moderate Buy" rating with an average target of $95.18.
• MetLife recently declared a quarterly dividend of $0.5675 per share, with an ex-dividend date of November 4th, representing an annualized yield of 2.8%.

KLP Kapitalforvaltning AS boosted its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,939 shares of the financial services provider's stock after buying an additional 11,000 shares during the period. KLP Kapitalforvaltning AS's holdings in MetLife were worth $18,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MET. North Capital Inc. acquired a new position in MetLife during the 1st quarter valued at about $26,000. Motco increased its position in MetLife by 105.5% during the 1st 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. Abound Wealth Management increased its holdings in shares of MetLife by 652.3% in the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 424 shares during the period. Legend Financial Advisors Inc. acquired a new position in shares of MetLife in the second quarter valued at about $40,000. Finally, WPG Advisers LLC acquired a new position in shares of MetLife in the first quarter valued at about $46,000. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MET. Wells Fargo & Company increased their price objective on MetLife from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Wednesday. Wolfe Research raised MetLife to a "strong-buy" rating in a report on Tuesday, September 16th. Weiss Ratings reissued a "buy (b)" rating on shares of MetLife in a report on Wednesday. UBS Group cut 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. Finally, Morgan Stanley raised their target price on MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and an average price target of $95.18.

MetLife Stock Performance

Shares of MET stock opened at $82.02 on Thursday. The company has a market capitalization of $54.55 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.75 and a beta of 0.86. The business's 50 day moving average is $79.44 and its two-hundred day moving average is $78.20. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05.

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

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. MetLife's dividend payout ratio is currently 38.47%.

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.

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