Jennison Associates LLC Grows Stock Position in MetLife, Inc. $MET

Jennison Associates LLC raised its holdings in MetLife, Inc. (NYSE:MET) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,247,813 shares of the financial services provider’s stock after purchasing an additional 174,419 shares during the period. Jennison Associates LLC’s holdings in MetLife were worth $261,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of MetLife by 9.0% during the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 351 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in MetLife by 24.7% in the first quarter. Transcend Capital Advisors LLC now owns 3,205 shares of the financial services provider’s stock valued at $257,000 after buying an additional 635 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in MetLife by 20.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock valued at $4,735,000 after buying an additional 10,414 shares during the last quarter. Amalgamated Bank lifted its stake in MetLife by 0.9% in the first quarter. Amalgamated Bank now owns 112,764 shares of the financial services provider’s stock valued at $9,054,000 after buying an additional 983 shares during the last quarter. Finally, Ameritas Advisory Services LLC increased its holdings in shares of MetLife by 3.9% during the first quarter. Ameritas Advisory Services LLC now owns 10,388 shares of the financial services provider’s stock valued at $836,000 after purchasing an additional 388 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price target on MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, August 11th. Wolfe Research raised MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. UBS Group lowered their target price on MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group lifted their target price on MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Finally, Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.18.

MetLife Trading Down 0.1%

Shares of MET opened at $78.77 on Wednesday. The business’s 50-day moving average price is $80.40 and its 200 day moving average price is $78.48. The stock has a market capitalization of $52.39 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.71 and a beta of 0.86. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The company had revenue of $17.34 billion during the quarter, compared to analysts’ expectations of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 EPS. Analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be paid a $0.5675 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. MetLife’s dividend payout ratio (DPR) is currently 38.47%.

MetLife Profile

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.