Stoneridge Investment Partners LLC acquired a new position in MetLife, Inc. (NYSE:MET – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,834 shares of the financial services provider’s stock, valued at approximately $657,000.
Several other large investors have also bought and sold shares of MET. Strs Ohio lifted its stake in shares of MetLife by 16.6% in the 4th quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock valued at $25,742,000 after purchasing an additional 46,469 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in MetLife by 2.1% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 714,193 shares of the financial services provider’s stock worth $56,712,000 after purchasing an additional 14,515 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in MetLife in the fourth quarter worth $81,494,000. Evergreen Capital Management LLC raised its holdings in MetLife by 195.8% in the fourth quarter. Evergreen Capital Management LLC now owns 33,260 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 22,016 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in MetLife by 2.2% during the fourth quarter. Principal Financial Group Inc. now owns 622,789 shares of the financial services provider’s stock valued at $49,163,000 after buying an additional 13,657 shares during the period. 94.99% of the stock is owned by institutional investors.
MetLife Stock Up 0.1%
Shares of NYSE:MET opened at $97.57 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $91.52 and a two-hundred day simple moving average of $81.55. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 0.75 and a beta of 0.78.
MetLife Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife’s payout ratio is presently 45.40%.
MetLife announced that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have recently commented on MET. UBS Group boosted their target price on shares of MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods increased their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Mizuho lifted their price target on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Atlantic Securities set a $103.00 price objective on shares of MetLife in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.07.
Get Our Latest Analysis on MetLife
About MetLife
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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