Wedge Capital Management L L P NC Increases Stock Position in Metlife Inc (NYSE:MET)

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Wedge Capital Management L L P NC boosted its position in shares of Metlife Inc (NYSE:MET) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 640,177 shares of the financial services provider’s stock after buying an additional 43,595 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Metlife were worth $32,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pflug Koory LLC lifted its stake in shares of Metlife by 93.6% in the fourth quarter. Pflug Koory LLC now owns 6,246 shares of the financial services provider’s stock worth $318,000 after buying an additional 3,020 shares in the last quarter. Raymond James Trust N.A. grew its stake in Metlife by 2.8% during the 4th quarter. Raymond James Trust N.A. now owns 50,619 shares of the financial services provider’s stock worth $2,580,000 after buying an additional 1,391 shares during the last quarter. New England Research & Management Inc. grew its stake in Metlife by 8.2% during the 4th quarter. New England Research & Management Inc. now owns 20,500 shares of the financial services provider’s stock worth $1,045,000 after buying an additional 1,550 shares during the last quarter. United Services Automobile Association increased its position in Metlife by 2.6% during the fourth quarter. United Services Automobile Association now owns 55,155 shares of the financial services provider’s stock worth $2,811,000 after buying an additional 1,421 shares during the period. Finally, Patten Group Inc. increased its position in Metlife by 26.8% during the fourth quarter. Patten Group Inc. now owns 12,938 shares of the financial services provider’s stock worth $659,000 after buying an additional 2,738 shares during the period. Institutional investors own 74.46% of the company’s stock.

Metlife stock opened at $51.85 on Thursday. The stock has a 50 day moving average of $50.71 and a two-hundred day moving average of $48.33. Metlife Inc has a twelve month low of $41.41 and a twelve month high of $52.76. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 1.00 and a beta of 1.13. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21.

Metlife (NYSE:MET) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.13). Metlife had a net margin of 10.82% and a return on equity of 8.82%. The company had revenue of $16.92 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Metlife Inc will post 5.53 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, February 4th will be given a $0.44 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.39%. Metlife’s dividend payout ratio (DPR) is 32.65%.

A number of brokerages have weighed in on MET. UBS Group boosted their price objective on Metlife from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. B. Riley reaffirmed a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. ValuEngine raised shares of Metlife from a “strong sell” rating to a “sell” rating in a report on Saturday, December 21st. Wells Fargo & Co reiterated a “buy” rating on shares of Metlife in a research report on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Metlife from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $60.00 in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Metlife has a consensus rating of “Hold” and an average price target of $50.34.

About Metlife

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.

Read More: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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