Estabrook Capital Management Acquires 295 Shares of MetLife, Inc. (NYSE:MET)

Estabrook Capital Management boosted its holdings in MetLife, Inc. (NYSE:MET) by 100.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589 shares of the financial services provider’s stock after acquiring an additional 295 shares during the quarter. Estabrook Capital Management’s holdings in MetLife were worth $48,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MET. Retirement Wealth Solutions LLC bought a new stake in shares of MetLife in the 4th quarter valued at approximately $32,000. Sierra Ocean LLC bought a new stake in MetLife in the fourth quarter valued at $32,000. Graney & King LLC bought a new stake in MetLife in the fourth quarter valued at $34,000. Values First Advisors Inc. acquired a new position in MetLife during the fourth quarter worth $36,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of MetLife in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Down 1.5 %

NYSE:MET opened at $68.28 on Wednesday. The stock’s fifty day simple moving average is $81.34 and its 200-day simple moving average is $82.68. The firm has a market capitalization of $46.51 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.65 and a beta of 0.89. 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, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MET shares. UBS Group increased their target price on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. BMO Capital Markets began coverage on MetLife in a report on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 target price on the stock. Piper Sandler raised their price target on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley increased their target price on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $94.85.

About MetLife

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.