Cibc World Markets Corp Cuts Stock Position in MetLife, Inc. (NYSE:MET)

Cibc World Markets Corp cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,391 shares of the financial services provider’s stock after selling 22,549 shares during the quarter. Cibc World Markets Corp’s holdings in MetLife were worth $7,565,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. United Asset Strategies Inc. raised its position in MetLife by 1.1% in the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 120 shares during the period. Barrett & Company Inc. raised its holdings in shares of MetLife by 1.0% in the 4th quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 121 shares during the period. Great Valley Advisor Group Inc. lifted its stake in MetLife by 1.3% in the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 123 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in MetLife by 2.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 126 shares during the period. Finally, Davis R M Inc. increased its position in MetLife by 4.2% in the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider’s stock worth $258,000 after buying an additional 127 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Performance

Shares of MET opened at $81.58 on Wednesday. MetLife, Inc. has a 12-month low of $67.30 and a 12-month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $55.58 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04. The stock has a 50-day moving average price of $83.44 and a 200-day moving average price of $82.56.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. As a group, equities analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.545 per share. The ex-dividend date was Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a yield of 2.67%. MetLife’s payout ratio is 36.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MET shares. Wells Fargo & Company increased their price target on MetLife from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Morgan Stanley upped their price target on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.58.

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.