Lombard Odier Asset Management Switzerland SA Buys 17,600 Shares of MetLife, Inc. $MET

Lombard Odier Asset Management Switzerland SA raised its position in shares of MetLife, Inc. (NYSE:MET) by 21.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 98,686 shares of the financial services provider’s stock after purchasing an additional 17,600 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in MetLife were worth $6,979,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its stake in shares of MetLife by 205.8% in the 4th 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 last quarter. Garton & Associates Financial Advisors LLC bought a new position in MetLife during the fourth quarter worth $30,000. Sound Income Strategies LLC raised its stake in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife in the fourth quarter valued at $31,000. Finally, Prosperity Bancshares Inc bought a new stake in MetLife during the fourth quarter valued at $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 2.3%

Shares of MetLife stock opened at $94.67 on Friday. The firm has a market cap of $60.91 billion, a PE ratio of 18.35, a P/E/G ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $94.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a fifty day moving average price of $87.27 and a 200-day moving average price of $79.55.

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

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio is currently 45.93%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MET. Bank of America dropped their target price on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler lifted their price target on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company increased their price objective on shares of MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods boosted their target price on MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

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.