8,924,234 Shares in MetLife, Inc. (NYSE:MET) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of MetLife, Inc. (NYSE:MET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,924,234 shares of the financial services provider’s stock, valued at approximately $730,716,000.

Other large investors have also recently added to or reduced their stakes in the company. United Asset Strategies Inc. lifted its stake in shares of MetLife by 1.1% in the 4th quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 120 shares during the last quarter. Barrett & Company Inc. increased its position in MetLife by 1.0% in the 4th quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock valued at $978,000 after buying an additional 121 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in MetLife by 2.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 126 shares during the period. Davis R M Inc. raised its holdings in shares of MetLife by 4.2% in the 4th quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 127 shares during the last quarter. Finally, Avestar Capital LLC grew its holdings in MetLife by 3.2% during the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock worth $352,000 after buying an additional 133 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on MetLife from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Cowen reaffirmed a “buy” rating on shares of MetLife in a report on Friday, March 7th. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Morgan Stanley boosted their target price on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.58.

MetLife Stock Performance

Shares of NYSE MET opened at $83.10 on Friday. The company’s fifty day moving average price is $83.44 and its 200 day moving average price is $82.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1 year low of $67.30 and a 1 year high of $89.05. The company has a market capitalization of $56.61 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. On average, research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is presently 36.52%.

MetLife Company 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.