Commerce Bank acquired a new position in shares of MetLife, Inc. (NYSE:MET – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 108,564 shares of the financial services provider’s stock, valued at approximately $9,186,000.
Several other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management increased its stake in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of MetLife in the 2nd quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of MetLife in the 4th quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of MetLife in the 4th quarter valued at $31,000. Finally, Prosperity Bancshares Inc acquired a new position in shares of MetLife during the 4th quarter worth $31,000. 94.99% of the stock is owned by institutional investors.
MetLife Stock Up 0.1%
Shares of NYSE:MET opened at $94.44 on Monday. The firm has a market cap of $60.77 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.73 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The business has a fifty day simple moving average of $92.41 and a 200 day simple moving average of $82.19.
MetLife declared that its board has initiated a stock repurchase program on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
MetLife Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.5%. MetLife’s dividend payout ratio is presently 45.40%.
Analysts Set New Price Targets
A number of research analysts have issued reports on MET shares. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Morgan Stanley lifted their price target on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays upped their price target on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.64.
Get Our Latest Analysis on MetLife
MetLife Profile
MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.
In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.
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