Eaton Vance Management Boosts Stock Holdings in MetLife, Inc. (NYSE:MET)

Eaton Vance Management increased its position in shares of MetLife, Inc. (NYSE:MET) by 2,025.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,016,818 shares of the financial services provider’s stock after purchasing an additional 968,987 shares during the period. Eaton Vance Management owned approximately 0.11% of MetLife worth $47,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in MetLife during the fourth quarter worth about $392,304,000. Capital Asset Advisory Services LLC grew its position in MetLife by 26.8% during the fourth quarter. Capital Asset Advisory Services LLC now owns 16,046 shares of the financial services provider’s stock worth $753,000 after buying an additional 3,388 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in MetLife by 7.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 43,948 shares of the financial services provider’s stock worth $2,064,000 after buying an additional 2,900 shares during the period. UBS Asset Management Americas Inc. grew its position in MetLife by 4.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 4,810,267 shares of the financial services provider’s stock worth $225,842,000 after buying an additional 226,479 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in MetLife by 62,239.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,638,289 shares of the financial services provider’s stock worth $76,918,000 after buying an additional 1,635,661 shares during the period. Institutional investors own 74.44% of the company’s stock.

Several analysts have recently commented on the stock. Barclays increased their price target on shares of MetLife from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, February 23rd. Royal Bank of Canada upped their price objective on shares of MetLife from $57.00 to $66.00 in a research note on Thursday, April 1st. Citigroup increased their price target on shares of MetLife from $58.00 to $69.00 in a research note on Wednesday, March 31st. Piper Sandler raised shares of MetLife from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $52.00 in a research note on Wednesday, January 6th. Finally, Morgan Stanley increased their price target on shares of MetLife from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $57.46.

In related news, CFO John D. Mccallion sold 7,456 shares of the firm’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $52.22, for a total transaction of $389,352.32. Following the completion of the sale, the chief financial officer now directly owns 38,977 shares of the company’s stock, valued at approximately $2,035,378.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Shares of MET stock opened at $61.78 on Thursday. The company’s fifty day simple moving average is $59.53 and its 200-day simple moving average is $48.79. MetLife, Inc. has a 52 week low of $29.18 and a 52 week high of $62.67. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21. The company has a market cap of $54.64 billion, a PE ratio of 10.14, a P/E/G ratio of 1.98 and a beta of 1.35.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 3rd. The financial services provider reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.50. MetLife had a net margin of 8.82% and a return on equity of 8.17%. The business had revenue of $20.58 billion for the quarter, compared to the consensus estimate of $16.12 billion. During the same quarter last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts expect that MetLife, Inc. will post 5.65 EPS for the current fiscal year.

MetLife announced that its board has authorized a share buyback plan on Friday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About MetLife

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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