Jennison Associates LLC Trims Position in MetLife, Inc. (NYSE:MET)

Jennison Associates LLC lowered its position in MetLife, Inc. (NYSE:MET) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,462,629 shares of the financial services provider’s stock after selling 1,060,099 shares during the quarter. Jennison Associates LLC’s holdings in MetLife were worth $96,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of MetLife by 678.4% during the 4th quarter. International Assets Investment Management LLC now owns 287,311 shares of the financial services provider’s stock worth $19,000,000 after purchasing an additional 250,402 shares during the period. AustralianSuper Pty Ltd boosted its position in shares of MetLife by 19.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,824,596 shares of the financial services provider’s stock worth $120,661,000 after purchasing an additional 293,925 shares during the period. Nordea Investment Management AB increased its holdings in MetLife by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 2,664,012 shares of the financial services provider’s stock valued at $176,304,000 after purchasing an additional 240,564 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in MetLife by 13.1% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 742,302 shares of the financial services provider’s stock valued at $49,088,000 after purchasing an additional 86,091 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in MetLife by 50.0% during the third quarter. Acadian Asset Management LLC now owns 8,856 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 2,952 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 1.2 %

MET opened at $71.96 on Tuesday. The firm’s 50 day moving average is $71.19 and its 200-day moving average is $66.94. MetLife, Inc. has a 52-week low of $48.95 and a 52-week high of $74.68. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $52.03 billion, a P/E ratio of 39.32, a P/E/G ratio of 0.53 and a beta of 1.04.

MetLife (NYSE:MET) last released its earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. Analysts expect that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MET shares. Morgan Stanley raised their price objective on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price objective on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group lowered their target price on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, February 5th. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Finally, Piper Sandler boosted their price objective on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.23.

Insider Buying and Selling at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ramy Tadros sold 4,026 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the completion of the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

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.