Quarry LP Raises Stake in MetLife, Inc. $MET

Key Points

• Quarry LP significantly increased its stake in MetLife, Inc. by 3,373.2%, holding 13,198 shares valued at approximately $1,060,000 following additional purchases in the first quarter.
• MetLife's recent earnings report revealed an EPS of $2.02, which missed analysts' expectations of $2.32, contributing to a year-over-year revenue decline of 2.7%.
• The company announced a quarterly dividend of $0.5675, with an annualized rate of $2.27, representing a dividend yield of 2.8% and a payout ratio of 38.47%.

Quarry LP lifted its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 3,373.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,198 shares of the financial services provider's stock after purchasing an additional 12,818 shares during the quarter. Quarry LP's holdings in MetLife were worth $1,060,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MET. Diamond Hill Capital Management Inc. purchased a new stake in shares of MetLife during the 1st quarter worth about $336,965,000. Nuveen LLC purchased a new stake in shares of MetLife during the 1st quarter worth about $312,946,000. Price T Rowe Associates Inc. MD grew its holdings in shares of MetLife by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider's stock worth $2,126,734,000 after purchasing an additional 1,824,907 shares during the period. GAMMA Investing LLC grew its holdings in shares of MetLife by 8,789.6% during the 1st quarter. GAMMA Investing LLC now owns 815,889 shares of the financial services provider's stock worth $65,508,000 after purchasing an additional 806,711 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MetLife during the 4th quarter worth about $62,265,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of MET opened at $81.41 on Friday. The business's 50 day moving average is $78.17 and its two-hundred day moving average is $78.41. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.73 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 0.57.

MetLife (NYSE:MET - Get Free Report) last announced its 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). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. During the same period in the previous year, the company earned $2.28 earnings per share. The business's revenue for the quarter was down 2.7% on a year-over-year basis. Analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is presently 38.47%.

Analysts Set New Price Targets

Several research firms recently commented on MET. Morgan Stanley reduced their price target on MetLife from $98.00 to $94.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Barclays boosted their price target on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. UBS Group reduced their price target on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group boosted their price target on MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Cowen reissued a "buy" rating on shares of MetLife in a research report on Friday, August 22nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.60.

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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