Connor Clark & Lunn Investment Management Ltd. Buys 371,518 Shares of MetLife, Inc. $MET

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of MetLife, Inc. (NYSE:MET) by 225.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 535,976 shares of the financial services provider’s stock after acquiring an additional 371,518 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of MetLife worth $43,103,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MET. Quaker Wealth Management LLC raised its stake in shares of MetLife by 198.2% during the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 672 shares in the last quarter. Motco increased its holdings in MetLife by 105.5% during the first quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after buying an additional 212 shares during the last quarter. GFG Capital LLC bought a new stake in MetLife during the second quarter worth $38,000. Abound Wealth Management lifted its stake in MetLife by 652.3% in the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of MetLife in the 2nd quarter valued at about $40,000. 94.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reduced their price target on MetLife from $94.00 to $92.00 and set an “outperform” rating for the company in a report on Monday, August 11th. Cowen restated a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetLife in a research report on Wednesday, October 8th. UBS Group dropped their price objective on shares of MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

MetLife Trading Up 0.2%

Shares of MET stock opened at $76.11 on Monday. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The stock’s fifty day moving average price is $80.04 and its two-hundred day moving average price is $78.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $50.62 billion, a PE ratio of 12.90, a P/E/G ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.07. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $18.64 billion. During the same period in the prior year, the company earned $1.95 EPS. MetLife’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is presently 42.75%.

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.