Plato Investment Management Ltd Grows Stake in MetLife, Inc. (NYSE:MET)

Plato Investment Management Ltd increased its holdings in shares of MetLife, Inc. (NYSE:MET) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,767 shares of the financial services provider’s stock after purchasing an additional 977 shares during the quarter. Plato Investment Management Ltd’s holdings in MetLife were worth $1,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GoalVest Advisory LLC lifted its position in shares of MetLife by 73.3% during the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in MetLife during the 4th quarter worth $39,000. Bank & Trust Co purchased a new position in shares of MetLife during the second quarter worth about $39,000. Crewe Advisors LLC increased its position in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of MetLife by 72.6% in the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Price Performance

MetLife stock opened at $76.19 on Monday. The company has a market cap of $54.18 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. MetLife, Inc. has a one year low of $57.91 and a one year high of $79.34. The business has a fifty day moving average of $73.86 and a two-hundred day moving average of $72.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that MetLife, Inc. will post 8.67 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s payout ratio is currently 74.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their price target on MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays began coverage on shares of MetLife in a report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 target price on the stock. Bank of America decreased their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Citigroup lifted their price objective on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus increased their target price on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.54.

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.