Verdence Capital Advisors LLC Acquires 10,101 Shares of MetLife, Inc. (NYSE:MET)

Verdence Capital Advisors LLC raised its holdings in MetLife, Inc. (NYSE:MET) by 104.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,753 shares of the financial services provider’s stock after acquiring an additional 10,101 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MetLife were worth $1,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC grew its position in MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Peterson Financial Group Inc. bought a new position in MetLife in the 3rd quarter valued at $30,000. Retirement Wealth Solutions LLC bought a new position in shares of MetLife during the 4th quarter worth $32,000. Sierra Ocean LLC bought a new position in shares of MetLife during the 4th quarter worth $32,000. Finally, Coastline Trust Co bought a new position in shares of MetLife during the 3rd quarter worth $35,000. Institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 2.0 %

Shares of NYSE MET opened at $83.17 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $56.66 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.65 and a beta of 1.04. MetLife, Inc. has a 1-year low of $67.30 and a 1-year high of $89.05. The business has a fifty day moving average price of $83.74 and a 200 day moving average price of $82.15.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. Equities research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is presently 36.52%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MET. TD Cowen increased their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets began coverage on MetLife in a research report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price target on the stock. Morgan Stanley increased their price target on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Keefe, Bruyette & Woods dropped their price target on MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.