Legal & General Group Plc acquired a new stake in MetLife, Inc. (NYSE:MET – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,863,654 shares of the financial services provider’s stock, valued at approximately $326,904,000. Legal & General Group Plc owned about 0.60% of MetLife as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of MetLife in the second quarter valued at $55,514,000. Trajan Wealth LLC acquired a new position in MetLife during the 2nd quarter worth about $8,428,000. Paradigm Capital Management LLC NV acquired a new position in MetLife during the 2nd quarter worth about $890,000. Fiduciary Financial Advisors bought a new stake in MetLife during the 2nd quarter worth about $123,000. Finally, Cetera Trust Company N.A acquired a new stake in MetLife in the 2nd quarter valued at about $2,285,000. Institutional investors own 94.99% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on MET shares. Keefe, Bruyette & Woods boosted their target price 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. Morgan Stanley raised their price target on shares of MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen boosted their price objective on shares of MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Evercore reaffirmed a “mixed” rating on shares of MetLife in a report on Monday. Finally, Mizuho increased their price objective on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife has an average rating of “Buy” and a consensus target price of $102.21.
MetLife Trading Down 0.3%
Shares of NYSE MET opened at $95.91 on Wednesday. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $100.93. The firm has a market capitalization of $61.71 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The company’s 50 day simple moving average is $92.75 and its 200 day simple moving average is $82.45.
MetLife (NYSE:MET – Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 EPS. On average, analysts predict that MetLife, Inc. will post 9.72 EPS for the current year.
MetLife Announces Dividend
The business also recently disclosed 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. 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 is currently 45.40%.
MetLife declared that its Board of Directors has initiated a share buyback 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 buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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.
Featured Stories
- Five stocks we like better than MetLife
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife, Inc. (NYSE:MET – Free Report).
Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.
