Citizens Financial Group Inc RI Increases Stock Position in Metlife Inc (NYSE:MET)

Citizens Financial Group Inc RI raised its holdings in Metlife Inc (NYSE:MET) by 10.9% during the 1st quarter, Holdings Channel reports. The firm owned 4,688 shares of the financial services provider’s stock after purchasing an additional 461 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Metlife were worth $143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MET. Princeton Global Asset Management LLC purchased a new stake in shares of Metlife in the fourth quarter valued at about $25,000. Capital International Sarl purchased a new position in shares of Metlife during the fourth quarter valued at approximately $27,000. America First Investment Advisors LLC purchased a new position in shares of Metlife during the first quarter valued at approximately $29,000. Clear Harbor Asset Management LLC purchased a new position in shares of Metlife during the fourth quarter valued at approximately $33,000. Finally, Ballast Advisors LLC purchased a new position in shares of Metlife during the first quarter valued at approximately $33,000. 74.04% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Metlife from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Wells Fargo & Co reduced their price objective on shares of Metlife from $59.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Credit Suisse Group reduced their price objective on shares of Metlife from $60.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Morgan Stanley upped their price objective on shares of Metlife from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Royal Bank of Canada upped their price objective on shares of Metlife from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.25.

Shares of MET stock opened at $33.34 on Friday. Metlife Inc has a one year low of $22.85 and a one year high of $53.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50 day moving average price of $32.93 and a 200 day moving average price of $43.33. The firm has a market capitalization of $30.40 billion, a price-to-earnings ratio of 3.55 and a beta of 1.33.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.44 by $0.14. Metlife had a net margin of 12.37% and a return on equity of 8.85%. The firm had revenue of $15.54 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. Metlife’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Metlife Inc will post 5.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 8th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.84 annualized dividend and a dividend yield of 5.52%. This is a positive change from Metlife’s previous quarterly dividend of $0.44. Metlife’s dividend payout ratio is presently 30.11%.

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.

Further Reading: Straddles

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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