Algebris UK Ltd Makes New $28.28 Million Investment in MetLife, Inc. (NYSE:MET)

Algebris UK Ltd acquired a new stake in MetLife, Inc. (NYSE:MET) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 357,633 shares of the financial services provider’s stock, valued at approximately $28,282,000. MetLife makes up about 7.1% of Algebris UK Ltd’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds have also made changes to their positions in the stock. CX Institutional boosted its position in shares of MetLife by 15.9% during the 4th quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock valued at $5,568,000 after purchasing an additional 9,337 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in MetLife by 109.2% during the fourth quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider’s stock valued at $722,727,000 after purchasing an additional 4,606,748 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in MetLife by 27.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 2,940 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MetLife by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider’s stock worth $63,559,000 after buying an additional 12,723 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MetLife in the third quarter worth approximately $2,960,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

NYSE MET opened at $81.58 on Wednesday. The company has a 50 day moving average price of $83.44 and a two-hundred day moving average price of $82.56. MetLife, Inc. has a 12-month low of $67.30 and a 12-month high of $89.05. The stock has a market capitalization of $55.58 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54.

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

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, February 4th. MetLife’s dividend payout ratio is 36.52%.

Wall Street Analysts Forecast Growth

MET has been the subject of several research reports. BMO Capital Markets began coverage on MetLife in a research note on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price objective for the company. Wells Fargo & Company upped their target price on MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. TD Cowen lifted their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Cowen reaffirmed a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $94.58.

MetLife 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.