Quantessence Capital LLC Invests $662,000 in MetLife, Inc. (NYSE:MET)

Quantessence Capital LLC purchased a new position in shares of MetLife, Inc. (NYSE:MET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,082 shares of the financial services provider’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MET. Anchor Investment Management LLC lifted its position in shares of MetLife by 12.5% during the 3rd quarter. Anchor Investment Management LLC now owns 6,115 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 681 shares during the period. World Investment Advisors LLC acquired a new stake in shares of MetLife in the third quarter valued at approximately $336,000. Wilmington Savings Fund Society FSB acquired a new position in shares of MetLife during the 3rd quarter worth approximately $701,000. Tidal Investments LLC grew its holdings in MetLife by 3.9% during the 3rd quarter. Tidal Investments LLC now owns 19,282 shares of the financial services provider’s stock valued at $1,590,000 after buying an additional 718 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of MetLife by 5.5% in the third quarter. Synovus Financial Corp now owns 22,720 shares of the financial services provider’s stock worth $1,874,000 after acquiring an additional 1,183 shares during the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of MET stock opened at $70.38 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50-day simple moving average is $78.94 and its 200-day simple moving average is $82.04. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The stock has a market capitalization of $47.94 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.65 and a beta of 0.89.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MET shares. BMO Capital Markets began coverage on shares of MetLife in a report on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 target price on the stock. Morgan Stanley reduced their price target on MetLife from $109.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reduced their target price on MetLife from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Piper Sandler raised their target price on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, UBS Group upped their price objective on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.46.

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.