Envestnet Asset Management Inc. Has $237.57 Million Holdings in MetLife, Inc. (NYSE:MET)

Envestnet Asset Management Inc. trimmed its stake in shares of MetLife, Inc. (NYSE:MET) by 1.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,901,403 shares of the financial services provider’s stock after selling 45,460 shares during the period. Envestnet Asset Management Inc.’s holdings in MetLife were worth $237,567,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in MetLife during the 4th quarter worth approximately $32,000. Retirement Wealth Solutions LLC bought a new stake in shares of MetLife in the fourth quarter worth $32,000. Graney & King LLC acquired a new position in MetLife during the fourth quarter worth $34,000. Values First Advisors Inc. acquired a new stake in MetLife in the 4th quarter valued at $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in MetLife during the 4th quarter worth about $48,000. 94.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on MetLife from $88.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley boosted 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. BMO Capital Markets initiated coverage on MetLife in a research note on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price objective on the stock. Barclays lowered their target price on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler lifted their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.85.

MetLife Stock Performance

NYSE:MET opened at $68.71 on Monday. The stock has a 50 day simple moving average of $82.41 and a 200 day simple moving average of $82.96. The stock has a market cap of $46.81 billion, a P/E ratio of 11.51, a PEG ratio of 0.65 and a beta of 0.89. MetLife, Inc. has a 1-year low of $67.10 and a 1-year high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share 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%. Research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.17%. MetLife’s dividend payout ratio is presently 36.52%.

MetLife Company 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.