American International Group Inc. trimmed its stake in shares of MetLife (NYSE:MET) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 334,044 shares of the financial services provider’s stock after selling 70,453 shares during the period. American International Group Inc.’s holdings in MetLife were worth $15,329,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MET. Diamond Hill Capital Management Inc. lifted its position in shares of MetLife by 38.5% during the first quarter. Diamond Hill Capital Management Inc. now owns 10,883,295 shares of the financial services provider’s stock worth $499,434,000 after purchasing an additional 3,027,327 shares in the last quarter. Prudential Financial Inc. lifted its holdings in MetLife by 66.0% in the first quarter. Prudential Financial Inc. now owns 2,899,754 shares of the financial services provider’s stock valued at $133,069,000 after buying an additional 1,153,335 shares during the period. BlackRock Inc. lifted its holdings in MetLife by 1.5% in the fourth quarter. BlackRock Inc. now owns 73,196,079 shares of the financial services provider’s stock valued at $3,700,792,000 after buying an additional 1,097,982 shares during the period. Alps Advisors Inc. lifted its holdings in MetLife by 9,943.0% in the fourth quarter. Alps Advisors Inc. now owns 907,988 shares of the financial services provider’s stock valued at $45,908,000 after buying an additional 898,947 shares during the period. Finally, TCW Group Inc. lifted its holdings in MetLife by 141.7% in the fourth quarter. TCW Group Inc. now owns 1,192,827 shares of the financial services provider’s stock valued at $60,310,000 after buying an additional 699,332 shares during the period. Institutional investors own 77.36% of the company’s stock.
MET opened at $48.09 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $48.57 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.82 and a beta of 1.24. MetLife has a twelve month low of $43.38 and a twelve month high of $55.91.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Monday, May 7th will be given a dividend of $0.42 per share. This is an increase from MetLife’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, May 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.49%. MetLife’s dividend payout ratio is currently 37.33%.
In related news, Director Gerald L. Hassell acquired 10,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was bought at an average price of $46.18 per share, with a total value of $461,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on MET. UBS restated a “neutral” rating and issued a $51.00 price objective (down from $52.00) on shares of MetLife in a report on Friday, March 2nd. Deutsche Bank cut their price objective on shares of MetLife from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, May 4th. Wells Fargo restated a “buy” rating on shares of MetLife in a report on Tuesday, May 8th. Sandler O’Neill set a $47.00 price objective on shares of MetLife and gave the company a “hold” rating in a report on Thursday, April 5th. Finally, Morgan Stanley cut their price objective on shares of MetLife from $59.00 to $58.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $56.81.
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.
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