Point72 Hong Kong Ltd Makes New Investment in Metlife Inc (NYSE:MET)
Point72 Hong Kong Ltd acquired a new position in shares of Metlife Inc (NYSE:MET) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,428 shares of the financial services provider’s stock, valued at approximately $328,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its stake in Metlife by 1.6% during the fourth quarter. FMR LLC now owns 34,976,649 shares of the financial services provider’s stock worth $1,782,760,000 after buying an additional 554,242 shares during the period. AQR Capital Management LLC boosted its stake in shares of Metlife by 28.5% in the fourth quarter. AQR Capital Management LLC now owns 8,824,066 shares of the financial services provider’s stock valued at $449,586,000 after purchasing an additional 1,959,431 shares during the period. AJO LP boosted its stake in shares of Metlife by 26.2% in the fourth quarter. AJO LP now owns 3,682,448 shares of the financial services provider’s stock valued at $187,693,000 after purchasing an additional 765,110 shares during the period. Jennison Associates LLC boosted its stake in shares of Metlife by 2.6% in the fourth quarter. Jennison Associates LLC now owns 3,527,868 shares of the financial services provider’s stock valued at $179,815,000 after purchasing an additional 88,853 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Metlife by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,413,384 shares of the financial services provider’s stock valued at $173,980,000 after purchasing an additional 30,290 shares during the period. Institutional investors own 75.47% of the company’s stock.
MET has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Metlife from $60.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Citigroup upgraded shares of Metlife from a “sell” rating to a “neutral” rating and decreased their target price for the company from $46.00 to $32.00 in a research note on Monday, March 16th. Wells Fargo & Co restated a “buy” rating on shares of Metlife in a research note on Monday, January 6th. ValuEngine upgraded shares of Metlife from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 21st. Finally, Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.80.
MET traded up $2.13 during trading on Wednesday, hitting $29.74. The company had a trading volume of 13,539,013 shares, compared to its average volume of 7,901,167. The company has a market cap of $21.55 billion, a PE ratio of 4.92, a P/E/G ratio of 0.91 and a beta of 1.09. The business has a 50-day moving average of $42.02 and a 200-day moving average of $47.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14. Metlife Inc has a 1-year low of $22.85 and a 1-year high of $53.28.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.58. The firm had revenue of $18.15 billion for the quarter, compared to analysts’ expectations of $16.82 billion. Metlife had a net margin of 8.39% and a return on equity of 9.14%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. Research analysts forecast that Metlife Inc will post 6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, February 4th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.92%. Metlife’s dividend payout ratio (DPR) is 28.81%.
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.
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