Geode Capital Management LLC Purchases 158,107 Shares of MetLife, Inc. (NYSE:MET)

Geode Capital Management LLC increased its position in MetLife, Inc. (NYSE:MET) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,931,536 shares of the financial services provider’s stock after buying an additional 158,107 shares during the quarter. Geode Capital Management LLC’s holdings in MetLife were worth $973,901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Retirement Wealth Solutions LLC acquired a new position in shares of MetLife during the fourth quarter valued at about $32,000. Sierra Ocean LLC bought a new position in MetLife in the 4th quarter valued at about $32,000. Graney & King LLC acquired a new position in MetLife during the 4th quarter valued at about $34,000. Values First Advisors Inc. bought a new stake in MetLife during the 4th quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of MetLife in the fourth quarter worth approximately $44,000. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

Shares of NYSE MET opened at $82.61 on Thursday. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04. The stock has a fifty day simple moving average of $82.98 and a two-hundred day simple moving average of $83.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 1-year low of $67.30 and a 1-year high of $89.05.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Tuesday, February 4th. MetLife’s payout ratio is currently 36.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Cowen reiterated a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Wells Fargo & Company raised their price target on shares of MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. UBS Group upped their price objective on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on shares of MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.85.

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.