Elevation Point Wealth Partners LLC Invests $1.27 Million in MetLife, Inc. $MET

Elevation Point Wealth Partners LLC bought a new stake in MetLife, Inc. (NYSE:METFree Report) during the second quarter, HoldingsChannel.com reports. The fund bought 15,049 shares of the financial services provider’s stock, valued at approximately $1,273,000.

Several other hedge funds have also bought and sold shares of MET. Brighton Jones LLC lifted its position in shares of MetLife by 9.0% in the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock valued at $347,000 after buying an additional 351 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of MetLife during the 1st quarter worth approximately $307,000. Empowered Funds LLC raised its stake in MetLife by 187.6% in the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock valued at $2,680,000 after acquiring an additional 21,771 shares during the period. Sivia Capital Partners LLC bought a new stake in MetLife in the 2nd quarter valued at $404,000. Finally, Jump Financial LLC acquired a new stake in MetLife during the 2nd quarter valued at $444,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MET has been the topic of several research reports. Mizuho upped their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. TD Cowen upped their price target on shares of MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley increased 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. UBS Group boosted their price objective on MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Barclays upped their target price on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average price target of $101.64.

Read Our Latest Stock Report on MetLife

MetLife Stock Performance

NYSE MET opened at $94.44 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The company has a market capitalization 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. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The firm has a 50-day moving average price of $92.41 and a two-hundred day moving average price of $82.19.

MetLife (NYSE:METGet Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. During the same period last year, the firm earned $2.02 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post 9.72 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is 45.40%.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

MetLife Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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