Glenmede Trust Co. NA Boosts Position in MetLife, Inc. $MET

Glenmede Trust Co. NA lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 31.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,958 shares of the financial services provider’s stock after acquiring an additional 10,712 shares during the quarter. Glenmede Trust Co. NA’s holdings in MetLife were worth $3,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Activest Wealth Management increased its position in MetLife by 205.8% during 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 period. Sound Income Strategies LLC raised its holdings 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 purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife in the 4th quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter valued at about $31,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of MetLife during the 4th quarter valued at about $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Down 0.1%

NYSE:MET opened at $96.20 on Wednesday. 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 firm’s 50-day moving average price is $89.18 and its 200-day moving average price is $80.41. The company has a market capitalization of $61.90 billion, a PE ratio of 18.64, a P/E/G ratio of 0.74 and a beta of 0.78. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $97.80.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $19.49 billion. During the same period last year, the company posted $1.96 EPS. MetLife’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that MetLife, Inc. will post 9.89 EPS for the current fiscal year.

MetLife Dividend Announcement

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

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Atlantic Securities set a $103.00 price objective on MetLife in a research report on Wednesday, July 15th. Morgan Stanley upped their target price on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Barclays increased their target price on MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their target price on MetLife from $96.00 to $106.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.50.

MetLife Profile

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.