Mirae Asset Global Investments Co. Ltd. Purchases 30,747 Shares of MetLife, Inc. $MET

Key Points

• Mirae Asset Global Investments increased its stake in MetLife by 41.0%, buying 30,747 shares to hold 105,744 shares valued at about $8.35 million at the end of the quarter.
• MetLife reported quarterly EPS of $2.49, beating estimates by $0.15, with revenue of $52.44 billion (up 27.6% year-over-year); the company has a market cap of $50.67 billion and a PE of 16.53.
• Analyst sentiment is broadly positive—MarketBeat shows an average rating of "Moderate Buy" with an average target of $93.38—and institutional investors own roughly 94.99% of the stock.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,744 shares of the financial services provider's stock after acquiring an additional 30,747 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in MetLife were worth $8,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in MetLife by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 64,749,521 shares of the financial services provider's stock valued at $5,333,418,000 after acquiring an additional 7,578,199 shares in the last quarter. Dodge & Cox boosted its position in MetLife by 0.9% during the 3rd quarter. Dodge & Cox now owns 53,659,664 shares of the financial services provider's stock valued at $4,419,947,000 after acquiring an additional 477,783 shares in the last quarter. Wellington Management Group LLP boosted its position in MetLife by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,572,807 shares of the financial services provider's stock valued at $1,035,622,000 after acquiring an additional 180,683 shares in the last quarter. Pzena Investment Management LLC boosted its position in MetLife by 5.8% during the 3rd quarter. Pzena Investment Management LLC now owns 9,672,023 shares of the financial services provider's stock valued at $796,685,000 after acquiring an additional 527,388 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in MetLife by 4.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,746,341 shares of the financial services provider's stock valued at $640,357,000 after acquiring an additional 352,395 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of MET stock opened at $77.71 on Tuesday. The business's fifty day simple moving average is $73.16 and its 200-day simple moving average is $76.75. The company has a market cap of $50.67 billion, a PE ratio of 16.53, a PEG ratio of 0.69 and a beta of 0.74. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $83.85.

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. MetLife had a return on equity of 21.81% and a net margin of 4.38%.The business had revenue of $52.44 billion for the quarter, compared to the consensus estimate of $31.43 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The business's quarterly revenue was up 27.6% on a year-over-year basis. Analysts expect that MetLife, Inc. will post 9.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on MET shares. Wall Street Zen raised MetLife from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Morgan Stanley dropped their target price on MetLife from $101.00 to $93.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Bank of America reduced their price target on MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. UBS Group upped their price target on MetLife from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Finally, TD Cowen reduced their price target on MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. One equities 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.38.

MetLife Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.