Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in MetLife, Inc. (NYSE:MET)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in MetLife, Inc. (NYSE:MET) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,029 shares of the financial services provider’s stock after buying an additional 1,059 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MetLife were worth $5,529,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MET. Massmutual Trust Co. FSB ADV boosted its stake in MetLife by 10.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,815 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 176 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of MetLife by 11.6% during the first quarter. Park Avenue Securities LLC now owns 39,640 shares of the financial services provider’s stock worth $2,938,000 after buying an additional 4,106 shares during the period. RFG Advisory LLC grew its holdings in shares of MetLife by 4.3% during the first quarter. RFG Advisory LLC now owns 6,181 shares of the financial services provider’s stock valued at $458,000 after buying an additional 257 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of MetLife by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 53,640 shares of the financial services provider’s stock valued at $3,975,000 after acquiring an additional 274 shares during the period. Finally, MJP Associates Inc. ADV purchased a new position in MetLife in the 1st quarter worth $239,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Stock Performance

MET opened at $85.32 on Friday. The company has a market cap of $60.67 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 0.69 and a beta of 1.04. The firm’s fifty day simple moving average is $78.52 and its two-hundred day simple moving average is $74.12. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife, Inc. has a 52-week low of $57.91 and a 52-week high of $86.94.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $18.57 billion. During the same period in the previous year, the firm posted $1.94 EPS. MetLife’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that MetLife, Inc. will post 8.61 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is 74.91%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup increased their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. TD Cowen began coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.46.

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.