1,429,828 Shares in MetLife (MET) Purchased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC bought a new position in shares of MetLife (NYSE:MET) during the first quarter, Holdings Channel reports. The fund bought 1,429,828 shares of the financial services provider’s stock, valued at approximately $65,615,000.

A number of other hedge funds have also recently modified their holdings of MET. First Fiduciary Investment Counsel Inc. increased its position in shares of MetLife by 3.1% during the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 316,150 shares of the financial services provider’s stock valued at $15,985,000 after acquiring an additional 9,465 shares during the last quarter. Snow Capital Management LP increased its position in shares of MetLife by 4.7% during the fourth quarter. Snow Capital Management LP now owns 1,204,905 shares of the financial services provider’s stock valued at $60,920,000 after acquiring an additional 53,883 shares during the last quarter. Griffin Asset Management Inc. increased its position in shares of MetLife by 10.7% during the fourth quarter. Griffin Asset Management Inc. now owns 81,776 shares of the financial services provider’s stock valued at $4,135,000 after acquiring an additional 7,916 shares during the last quarter. BTC Capital Management Inc. increased its position in shares of MetLife by 8.7% during the fourth quarter. BTC Capital Management Inc. now owns 67,833 shares of the financial services provider’s stock valued at $3,429,000 after acquiring an additional 5,430 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. increased its position in shares of MetLife by 4.9% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 194,950 shares of the financial services provider’s stock valued at $9,856,000 after acquiring an additional 9,020 shares during the last quarter. 79.37% of the stock is currently owned by institutional investors.

In other news, Director Gerald L. Hassell purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was bought at an average price of $46.18 per share, for a total transaction of $461,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Shares of MetLife opened at $48.18 on Friday, MarketBeat reports. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $48.26 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.82 and a beta of 1.24. MetLife has a fifty-two week low of $47.28 and a fifty-two week high of $47.67.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.19. MetLife had a net margin of 6.48% and a return on equity of 8.70%. The company had revenue of $15.15 billion during the quarter, compared to the consensus estimate of $15.52 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. research analysts predict that MetLife will post 5.07 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Monday, May 7th will be paid a $0.42 dividend. The ex-dividend date is Friday, May 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. This is an increase from MetLife’s previous quarterly dividend of $0.40. MetLife’s payout ratio is currently 37.33%.

A number of brokerages have weighed in on MET. UBS reiterated a “neutral” rating and set a $51.00 price target (down from $52.00) on shares of MetLife in a research report on Friday, March 2nd. Deutsche Bank dropped their price target on shares of MetLife from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Wells Fargo reiterated a “buy” rating on shares of MetLife in a research report on Tuesday, May 8th. Sandler O’Neill set a $47.00 price objective on shares of MetLife and gave the company a “hold” rating in a report on Thursday, April 5th. Finally, Morgan Stanley dropped their price objective on shares of MetLife from $59.00 to $58.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.81.

MetLife Company Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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