Vanguard Group Inc. Grows Position in MetLife, Inc. $MET

Key Points

• Vanguard Group increased its stake in MetLife by 12.1% in the fourth quarter to 72,555,335 shares, representing about 11.01% of the company and valued at roughly $5.73 billion.
• MetLife beat quarterly expectations with $2.49 EPS versus a $2.34 estimate and reported revenue of $52.44 billion, up 27.6% year-over-year, with a return on equity of 21.81%.
• Wall Street collectively rates MetLife a Moderate Buy with an average price target of $93.38, although several firms have recently trimmed price targets while maintaining Buy/Outperform ratings.

Vanguard Group Inc. lifted its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,555,335 shares of the financial services provider's stock after acquiring an additional 7,805,814 shares during the quarter. Vanguard Group Inc. owned approximately 11.01% of MetLife worth $5,727,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MET. Vermillion & White Wealth Management Group LLC lifted its position in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after purchasing an additional 316 shares during the period. Sound Income Strategies LLC lifted its position in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in MetLife during the third quarter valued at approximately $32,000. Albion Financial Group UT purchased a new stake in MetLife during the fourth quarter valued at approximately $32,000. Finally, JPL Wealth Management LLC purchased a new stake in MetLife during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

NYSE:MET opened at $77.69 on Tuesday. The company's 50-day moving average price is $73.11 and its 200-day moving average price is $76.57. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The company has a market cap of $50.65 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.69 and a beta of 0.74. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $83.85.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.15. The firm had revenue of $52.44 billion for the quarter, compared to the consensus estimate of $31.43 billion. MetLife had a net margin of 4.38% and a return on equity of 21.81%. The company's revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm posted $2.08 earnings per share. On average, sell-side analysts forecast that MetLife, Inc. will post 9.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MET shares. TD Cowen decreased their price target on shares of MetLife from $91.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. Wall Street Zen upgraded shares of MetLife from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Bank of America dropped their price target on shares of MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Mizuho dropped their price target on shares of MetLife from $100.00 to $93.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Finally, Morgan Stanley dropped their price target on shares of MetLife from $101.00 to $93.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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