Fifth Third Bancorp Increases Holdings in MetLife, Inc. $MET

Fifth Third Bancorp grew its position in MetLife, Inc. (NYSE:MET) by 143.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 303,607 shares of the financial services provider’s stock after buying an additional 178,798 shares during the quarter. Fifth Third Bancorp’s holdings in MetLife were worth $21,471,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its holdings in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its holdings in shares of 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 valued at $29,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $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 approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of MetLife during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho increased their target price on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Morgan Stanley upped their price objective on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Jefferies Financial Group lifted their target price on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday. Finally, Evercore set a $96.00 target price on shares of MetLife in a report on Thursday, April 9th. 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, MetLife has an average rating of “Moderate Buy” and a consensus price target of $98.23.

MetLife Trading Up 1.5%

MetLife stock opened at $93.04 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $93.16. The company has a market capitalization of $59.86 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. The stock has a 50-day moving average price of $84.69 and a 200 day moving average price of $78.71.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 earnings per share. Sell-side analysts anticipate that MetLife, Inc. will post 9.97 EPS for the current year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. MetLife’s dividend payout ratio is presently 45.93%.

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.