Dodge & Cox has recently announced that it has increased stake in MetLife Inc. (NYSE:MET) by 0.16%. After grabbing 54.15 million shares, the institutional investor is now in possession of 83945.0 shares of the Financial Company. The new investment brought the stake of investor firm to 7.07% having worth around $3.41 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 8.65 million to have a control over 35.28 million shares. And Geode Capital Management LLC raised its holdings to 24813.0 shares by acquiring 11.73 million shares or 1.53% of the stake.
MetLife Inc. (MET) concluded trading on 09/13/23 at a closing price of $63.79, with 4.55 million shares of worth about $290.26 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.99% during that period and on Wednesday the price saw a loss of about -0.31%. Currently the company’s common shares owned by public are about 765.90M shares, out of which, 630.55M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the MET stock and their offered price forecasts bring an average price target of $76.96. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $85.00 and could fall to a lowest price of $58.00. The stock’s current price level is 17.27% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.98% for the stock. However, touching the estimated high of $85.00 would mean a gain of 24.95% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 135 times over the past 12 months. They bought 826,065 shares in 108 of the transactions. In 27 selling transactions, insiders dumped 480,454 shares.
Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in MetLife Inc. Dodge & Cox Stock Fund is currently holding 37.86 million shares of worth totaling $2.38 billion. The company recently came buying 0.21 million shares which brought its stake up to 4.94% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold 11114.0 shares, after which its hold over company’s outstanding shares shrunk to 2.34%, leaving 17.89 million shares with the mutual fund that have a worth of about $1.13 billion. Vanguard 500 Index Fund, after buying 15.4 million shares, have now control over 2.01% of the stake in the company. It holds 86084.0 shares of worth $969.92 million.
MetLife Inc. (NYSE: MET) started trading at $64.21, above $0.22 from concluding price of the previous day. However, the stock later moved at a day high price of 64.44, or with a loss of -0.31%. Stock saw a price change of 0.93% in past 5 days and over the past one month there was a price change of 0.35%. Year-to-date (YTD), MET shares are showing a performance of -11.86% which decreased to -6.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $48.95 but also hit the highest price of $77.36 during that period. The average intraday trading volume for MetLife Inc. shares is 3.97 million. The stock is currently trading 1.76% above its 20-day simple moving average (SMA20), while that difference is up 3.43% for SMA50 and it goes to 1.04% higher than SMA200.
Dodge & Cox acquired 54.15 million shares of MetLife Inc. having value of about $3.41 billion. Data submitted at the U.S SEC by Dodge & Cox revealed that the firm now holds 83945.0 shares in the company valued at close to $5354851.55, or have control over 0.16% stake in the company. MetLife Inc. (NYSE: MET) currently have 765.90M outstanding shares and institutions hold larger chunk of about 75.50% of that. Holding of mutual funds in the company is about 32.67% while other institutional holders and individual stake holders have control over 41.48% and 16.79% of the stake respectively.
The stock has a current market capitalization of $47.56B and its 3Y-monthly beta is at 1.09. PE ratio of stock for trailing 12 months is 29.19, while it has posted earnings per share of $2.19 in the same period. Its PEG reads 3.11 while making debt-to-equity ratio of 0.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MET, volatility over the week remained 1.65% while standing at 1.62% over the month.
Analysts are in expectations that MetLife Inc. (MET) stock would likely to be making an EPS of $2.09 in the current quarter, while forecast for next quarter EPS is $2.16 and it is $9.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.86 which is $2.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.21 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -62.90% while it is estimated to increase by 20.21% in next year. EPS is likely to grow at an annualized rate of 9.40% for next 5-years, compared to annual growth of -8.70% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the MetLife Inc. (MET)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 19 Wall Street analysts, 12 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on January 09, 2023 offering a Neutral rating for the stock and assigned a target price range of between $80 and $78 to it.