Quantinno Capital Management LP Acquires 109,004 Shares of MetLife, Inc. $MET

Quantinno Capital Management LP grew its holdings in shares of MetLife, Inc. (NYSE:MET) by 21.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 621,375 shares of the financial services provider’s stock after purchasing an additional 109,004 shares during the quarter. Quantinno Capital Management LP owned approximately 0.10% of MetLife worth $43,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife in the fourth quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife in the fourth quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of MetLife during the 4th quarter valued at approximately $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MET has been the topic of several recent research reports. Jefferies Financial Group increased their target price on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Atlantic Securities set a $103.00 price objective on MetLife in a research note on Wednesday, July 15th. Mizuho increased their price objective on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Piper Sandler raised their target price on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

MetLife Stock Down 0.4%

MET stock opened at $97.10 on Thursday. The company’s 50 day moving average is $88.17 and its 200 day moving average is $79.90. The stock has a market cap of $62.48 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $97.80.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same period in the previous year, the business posted $1.96 earnings per share. MetLife’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that MetLife, Inc. will post 9.89 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is currently 45.93%.

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.