Nomura Asset Management Co. Ltd. Purchases 18,339 Shares of MetLife, Inc. $MET

Nomura Asset Management Co. Ltd. increased its position in MetLife, Inc. (NYSE:MET) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,750 shares of the financial services provider’s stock after buying an additional 18,339 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in MetLife were worth $17,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management lifted its position in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the last quarter. Sound Income Strategies LLC lifted its position in MetLife by 58.9% in the 4th 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. Foster Dykema Cabot & Partners LLC bought a new stake in MetLife in the 3rd quarter worth approximately $32,000. Finally, Albion Financial Group UT bought a new stake in MetLife in the 4th quarter worth approximately $32,000. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MET opened at $82.88 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $85.29. The stock has a market capitalization of $53.33 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78. The stock’s 50 day moving average price is $76.75 and its 200-day moving average price is $76.88.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that MetLife, Inc. will post 9.96 EPS for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.9%. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, May 12th. MetLife’s payout ratio is presently 45.93%.

Analyst Ratings Changes

A number of analysts recently weighed in on MET shares. Piper Sandler boosted their target price on MetLife from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Wall Street Zen cut MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore set a $96.00 price target on MetLife in a research note on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price target on MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, TD Cowen decreased their price target on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.31.

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.