MetLife, Inc. (NYSE:MET) Shares Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its holdings in MetLife, Inc. (NYSE:MET) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 295,829 shares of the financial services provider’s stock after buying an additional 10,729 shares during the period. Alpha Cubed Investments LLC’s holdings in MetLife were worth $24,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after buying an additional 1,974,268 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after purchasing an additional 988,666 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of MetLife by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after purchasing an additional 269,246 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of MetLife by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after purchasing an additional 100,782 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of MetLife by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 2,772,751 shares of the financial services provider’s stock valued at $205,544,000 after purchasing an additional 108,739 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 1.2 %

Shares of MetLife stock opened at $83.00 on Tuesday. The stock has a 50-day moving average price of $75.97 and a 200 day moving average price of $73.33. The company has a market cap of $59.02 billion, a P/E ratio of 28.52, a P/E/G ratio of 0.66 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife, Inc. has a 1 year low of $57.91 and a 1 year high of $84.26.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, analysts expect that MetLife, Inc. will post 8.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MET has been the topic of several research analyst reports. Bank of America reduced their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Keefe, Bruyette & Woods dropped their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. raised their target price on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Piper Sandler raised their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.25.

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.