Algebris UK Ltd Takes $28.28 Million Position in MetLife, Inc. (NYSE:MET)

Algebris UK Ltd purchased a new position in shares of MetLife, Inc. (NYSE:MET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 357,633 shares of the financial services provider’s stock, valued at approximately $28,282,000. MetLife accounts for approximately 7.1% of Algebris UK Ltd’s investment portfolio, making the stock its 2nd largest position. Algebris UK Ltd owned 0.05% of MetLife as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of MetLife by 109.2% in the fourth quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider’s stock worth $722,727,000 after buying an additional 4,606,748 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MetLife by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock valued at $375,179,000 after acquiring an additional 68,579 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of MetLife by 16.8% during the fourth quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock valued at $347,735,000 after purchasing an additional 608,224 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of MetLife by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,913,408 shares of the financial services provider’s stock worth $320,430,000 after purchasing an additional 30,187 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of MetLife by 76.0% in the fourth quarter. Swedbank AB now owns 3,466,808 shares of the financial services provider’s stock valued at $283,862,000 after purchasing an additional 1,496,645 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Down 0.7 %

NYSE MET opened at $81.58 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a one year low of $67.30 and a one year high of $89.05. The company has a 50-day simple moving average of $83.44 and a 200-day simple moving average of $82.56. The firm has a market capitalization 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.

MetLife (NYSE:MET) last issued its 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 net margin of 6.19% and a return on equity of 20.42%. On average, equities analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on MET. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. BMO Capital Markets began coverage on MetLife in a research note on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price objective for the company. JPMorgan Chase & Co. upped their target price on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.