Sei Investments Co. Grows Stock Holdings in MetLife, Inc. $MET

Sei Investments Co. grew its stake in MetLife, Inc. (NYSE:MET) by 61.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908,052 shares of the financial services provider’s stock after acquiring an additional 346,107 shares during the period. Sei Investments Co. owned 0.14% of MetLife worth $64,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares during the period. Sound Income Strategies LLC increased its holdings in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in MetLife during the 4th quarter worth $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the 4th quarter valued at $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of MetLife in the 4th quarter worth $31,000. Institutional investors own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

MET has been the topic of a number of recent research reports. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler increased their target price on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Morgan Stanley raised their target price on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

MetLife Price Performance

Shares of MET opened at $94.67 on Friday. The company has a 50 day moving average of $87.27 and a two-hundred day moving average of $79.55. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $94.86. The company has a market cap of $60.91 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.