Stone Ridge Asset Management LLC Purchases 13,000 Shares of Metlife Inc (NYSE:MET)

Stone Ridge Asset Management LLC grew its position in Metlife Inc (NYSE:MET) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,557 shares of the financial services provider’s stock after acquiring an additional 13,000 shares during the period. Stone Ridge Asset Management LLC’s holdings in Metlife were worth $3,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. grew its position in shares of Metlife by 4,407.7% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 573 shares during the period. Kavar Capital Partners LLC bought a new position in shares of Metlife in the 2nd quarter valued at about $25,000. Osborn Williams & Donohoe LLC bought a new position in shares of Metlife in the 1st quarter valued at about $26,000. Meridian Wealth Management LLC bought a new position in shares of Metlife in the 1st quarter valued at about $26,000. Finally, Advisory Alpha LLC bought a new position in shares of Metlife in the 1st quarter valued at about $27,000. 76.14% of the stock is owned by institutional investors.

Shares of MET stock traded down $1.62 during midday trading on Friday, hitting $44.59. 7,682,859 shares of the company were exchanged, compared to its average volume of 6,625,859. The firm has a market capitalization of $42.85 billion, a P/E ratio of 8.27, a PEG ratio of 0.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s 50 day moving average price is $48.47 and its two-hundred day moving average price is $46.68. Metlife Inc has a 52 week low of $37.76 and a 52 week high of $51.16.

Metlife (NYSE:MET) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The business had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.43 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. Metlife’s revenue was down 22.4% compared to the same quarter last year. Analysts expect that Metlife Inc will post 5.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.95%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio (DPR) is 32.65%.

MET has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday. ValuEngine downgraded shares of Metlife from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Citigroup set a $42.00 target price on shares of Metlife and gave the stock a “sell” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co lifted their target price on shares of Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $49.71.

Metlife 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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