Public Sector Pension Investment Board Has $30.38 Million Stock Holdings in MetLife, Inc. (NYSE:MET)

Public Sector Pension Investment Board lifted its stake in MetLife, Inc. (NYSE:MET) by 347.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 432,887 shares of the financial services provider’s stock after acquiring an additional 336,127 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.06% of MetLife worth $30,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Forum Financial Management LP grew its stake in shares of MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after buying an additional 141 shares during the last quarter. Drive Wealth Management LLC increased its holdings in MetLife by 3.5% in the 2nd quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 141 shares in the last quarter. Hills Bank & Trust Co raised its position in MetLife by 8.3% in the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 142 shares during the last quarter. CNB Bank boosted its stake in shares of MetLife by 9.3% during the first quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 147 shares in the last quarter. Finally, Marcum Wealth LLC grew its holdings in shares of MetLife by 4.7% during the first quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Down 0.3 %

MetLife stock opened at $80.85 on Monday. The company has a market capitalization of $57.49 billion, a PE ratio of 27.78, a PEG ratio of 0.61 and a beta of 1.04. MetLife, Inc. has a 12-month low of $57.91 and a 12-month high of $81.39. The firm’s fifty day moving average is $74.66 and its 200 day moving average is $72.64. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that MetLife, Inc. will post 8.67 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.545 per share. The ex-dividend date was Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 2.70%. MetLife’s dividend payout ratio is 74.91%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MET. Bank of America cut their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley lowered their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Keefe, Bruyette & Woods reduced their price target on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.54.

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.