MetLife, Inc. (NYSE:MET) Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in MetLife, Inc. (NYSE:MET) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 167,683 shares of the financial services provider’s stock after selling 21,829 shares during the quarter. MetLife comprises about 0.9% of Summit Global Investments’ portfolio, making the stock its 21st biggest holding. Summit Global Investments’ holdings in MetLife were worth $13,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MET. Retirement Wealth Solutions LLC acquired a new position in shares of MetLife in the fourth quarter worth about $32,000. Sierra Ocean LLC purchased a new position in shares of MetLife in the 4th quarter valued at about $32,000. Values First Advisors Inc. acquired a new position in MetLife in the 4th quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in MetLife during the fourth quarter worth approximately $44,000. Finally, Atala Financial Inc acquired a new stake in MetLife in the fourth quarter valued at approximately $45,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

MET stock opened at $82.33 on Friday. MetLife, Inc. has a 1 year low of $67.30 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $56.09 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04. The business has a 50 day simple moving average of $83.48 and a 200-day simple moving average of $82.60.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. Equities research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is presently 36.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MET shares. Barclays reduced their target price on MetLife from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $94.58.

About MetLife

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.