MetLife, Inc. (NYSE:MET) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 24.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,843 shares of the financial services provider's stock after acquiring an additional 7,062 shares during the quarter. MetLife accounts for approximately 0.8% of Convergence Investment Partners LLC's holdings, making the stock its 29th largest position. Convergence Investment Partners LLC's holdings in MetLife were worth $2,878,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of MetLife by 4.8% in the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider's stock worth $33,937,000 after purchasing an additional 19,192 shares in the last quarter. Sei Investments Co. increased its stake in shares of MetLife by 7.1% in the 4th quarter. Sei Investments Co. now owns 435,847 shares of the financial services provider's stock worth $35,687,000 after purchasing an additional 28,848 shares in the last quarter. Ritholtz Wealth Management increased its stake in MetLife by 52.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider's stock worth $751,000 after buying an additional 3,204 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in MetLife in the 1st quarter worth $255,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in MetLife by 20.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider's stock worth $4,735,000 after buying an additional 10,414 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of MET traded up $0.74 during trading hours on Friday, reaching $78.53. 2,179,018 shares of the company traded hands, compared to its average volume of 3,364,162. The stock has a market capitalization of $52.72 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.64 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The business has a fifty day moving average price of $78.72 and a 200-day moving average price of $79.72.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The company had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. During the same period last year, the firm earned $1.83 earnings per share. MetLife's quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife announced that its board has approved a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, August 5th. MetLife's payout ratio is 36.91%.

Analyst Ratings Changes

A number of brokerages have issued reports on MET. Morgan Stanley cut their price target on MetLife from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group boosted their target price on MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a research note on Wednesday, July 9th. Finally, Piper Sandler lifted their price target on shares of MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.09.

MetLife Company Profile

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.