Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in MetLife, Inc. (NYSE:MET)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of MetLife, Inc. (NYSE:MET) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 926,974 shares of the financial services provider’s stock after buying an additional 56,341 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in MetLife were worth $76,207,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in MetLife during the 4th quarter valued at about $32,000. Sierra Ocean LLC purchased a new stake in MetLife in the fourth quarter valued at approximately $32,000. Graney & King LLC acquired a new position in MetLife in the 4th quarter worth approximately $34,000. Values First Advisors Inc. purchased a new position in MetLife during the 4th quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC acquired a new stake in MetLife during the 4th quarter valued at approximately $44,000. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Trading Down 1.0 %

Shares of MetLife stock opened at $83.10 on Friday. 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 twelve month low of $67.30 and a twelve month high of $89.05. The firm has a market capitalization of $56.61 billion, a PE ratio of 13.92, a P/E/G ratio of 0.65 and a beta of 1.04. The firm’s 50-day moving average price is $83.44 and its 200 day moving average price is $82.80.

MetLife (NYSE:MET) last released its earnings results 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 net margin of 6.19% and a return on equity of 20.42%. On average, sell-side analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is 36.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MET. Morgan Stanley increased their price objective on shares of MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets assumed coverage on MetLife in a research report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.58.

MetLife Company 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.