Mirae Asset Global Investments Co. Ltd. Buys 3,639 Shares of MetLife, Inc. $MET

Key Points

• Mirae Asset Global Investments has increased its stake in MetLife, Inc. by 6.0%, now holding a total of 64,424 shares worth approximately $5.18 million.
• Recent analyst reports have generally favored MetLife, with a "Moderate Buy" average rating and a price target range between $92 and $95 from multiple brokerages.
• MetLife reported a lower-than-expected EPS of $2.02 for its latest quarter, missing the consensus estimate of $2.32, alongside a revenue decline of 2.7% year-over-year.

Mirae Asset Global Investments Co. Ltd. increased its stake in MetLife, Inc. (NYSE:MET - Free Report) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,424 shares of the financial services provider's stock after acquiring an additional 3,639 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in MetLife were worth $5,181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of MetLife by 9.0% in the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after buying an additional 351 shares during the period. UMB Bank n.a. grew its holdings in MetLife by 8.9% in the 1st quarter. UMB Bank n.a. now owns 7,586 shares of the financial services provider's stock worth $609,000 after acquiring an additional 619 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of MetLife by 5.7% in the first quarter. Park Avenue Securities LLC now owns 39,409 shares of the financial services provider's stock valued at $3,164,000 after acquiring an additional 2,119 shares during the period. Farther Finance Advisors LLC raised its stake in shares of MetLife by 36.9% during the first quarter. Farther Finance Advisors LLC now owns 15,330 shares of the financial services provider's stock valued at $1,244,000 after acquiring an additional 4,133 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of MetLife during the first quarter worth about $474,000. 94.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MET. Cowen restated a "buy" rating on shares of MetLife in a report on Friday, August 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of MetLife in a research note on Saturday, September 27th. Keefe, Bruyette & Woods decreased their target price on MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays upped their price objective on shares of MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $94.64.

MetLife Price Performance

Shares of MET stock opened at $82.34 on Tuesday. The business's fifty day moving average is $79.20 and its 200 day moving average is $78.14. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.74 and a beta of 0.86. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 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 the consensus estimate of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS. Research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

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.

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