Riverhead Capital Management LLC Increases Position in MetLife (MET)

Riverhead Capital Management LLC lifted its holdings in MetLife (NYSE:MET) by 134.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,431 shares of the financial services provider’s stock after purchasing an additional 24,363 shares during the period. Riverhead Capital Management LLC’s holdings in MetLife were worth $1,947,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Afam Capital Inc. grew its holdings in shares of MetLife by 1.3% in the first quarter. Afam Capital Inc. now owns 110,773 shares of the financial services provider’s stock valued at $5,083,000 after purchasing an additional 1,396 shares in the last quarter. Signaturefd LLC grew its holdings in shares of MetLife by 50.2% in the first quarter. Signaturefd LLC now owns 6,155 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 2,057 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of MetLife by 13.5% in the first quarter. Thompson Siegel & Walmsley LLC now owns 39,637 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 4,701 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of MetLife by 14.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,585,000 shares of the financial services provider’s stock valued at $72,736,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Breiter Capital Management Inc. acquired a new position in shares of MetLife in the first quarter valued at approximately $374,000. Hedge funds and other institutional investors own 79.37% of the company’s stock.

In related news, Director Gerald L. Hassell bought 10,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was acquired at an average price of $46.18 per share, for a total transaction of $461,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of MetLife from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, May 10th. Wells Fargo restated a “buy” rating on shares of MetLife in a report on Tuesday, May 8th. Deutsche Bank lowered their price target on shares of MetLife from $51.00 to $48.00 and set a “hold” rating for the company in a report on Friday, May 4th. ValuEngine cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Credit Suisse Group assumed coverage on shares of MetLife in a report on Wednesday, April 25th. They set an “outperform” rating and a $67.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. MetLife has an average rating of “Hold” and an average target price of $56.81.

Shares of MetLife stock opened at $47.78 on Friday. MetLife has a 12-month low of $43.38 and a 12-month high of $55.91. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $48.57 billion, a PE ratio of 10.62, a P/E/G ratio of 0.82 and a beta of 1.24.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.19. MetLife had a net margin of 6.48% and a return on equity of 8.70%. The business had revenue of $15.15 billion during the quarter, compared to analysts’ expectations of $15.52 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. research analysts expect that MetLife will post 5.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Monday, May 7th will be issued a $0.42 dividend. This is a boost from MetLife’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.52%. MetLife’s dividend payout ratio is presently 37.33%.

MetLife Profile

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.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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