Envestnet Portfolio Solutions Inc. Boosts Position in MetLife, Inc. (NYSE:MET)

Envestnet Portfolio Solutions Inc. raised its stake in shares of MetLife, Inc. (NYSE:MET) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,297 shares of the financial services provider’s stock after buying an additional 1,551 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in MetLife were worth $2,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MET. Retirement Wealth Solutions LLC purchased a new position in MetLife during the 4th quarter valued at about $32,000. Sierra Ocean LLC purchased a new position in MetLife during the 4th quarter valued at about $32,000. Values First Advisors Inc. purchased a new position in MetLife during the 4th quarter valued at about $36,000. Golden State Wealth Management LLC purchased a new position in MetLife during the 4th quarter valued at about $44,000. Finally, Atala Financial Inc purchased a new position in MetLife during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

Shares of MET stock opened at $83.02 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a fifty-two week low of $67.30 and a fifty-two week high of $89.05. The stock has a 50 day moving average price of $83.44 and a two-hundred day moving average price of $82.57. The company has a market capitalization of $56.56 billion, a P/E ratio of 13.91, a PEG ratio of 0.65 and a beta of 1.04.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share 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%. Analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th were given a $0.545 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.63%. MetLife’s payout ratio is currently 36.52%.

Analyst Ratings Changes

MET has been the subject of several recent analyst reports. Barclays cut their price objective on MetLife from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, February 7th. TD Cowen boosted their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley boosted their price objective on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price objective on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.58.

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.