Birmingham Capital Management Co. Inc. AL Buys New Position in MetLife, Inc. $MET

Birmingham Capital Management Co. Inc. AL purchased a new position in MetLife, Inc. (NYSE:METFree Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,508 shares of the financial services provider’s stock, valued at approximately $974,000.

A number of other institutional investors have also recently made changes to their positions in MET. Activest Wealth Management raised its position in shares of MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in MetLife during the second quarter valued at about $26,000. Burk Holdings LLC purchased a new stake in MetLife during the second quarter valued at about $27,000. Garton & Associates Financial Advisors LLC bought a new stake in MetLife during the fourth quarter worth about $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife in the 4th quarter worth about $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 0.8%

MET opened at $96.62 on Thursday. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. 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 business’s 50-day moving average price is $92.96 and its 200-day moving average price is $82.60. The company has a market cap of $62.17 billion, a P/E ratio of 18.51, a P/E/G ratio of 0.74 and a beta of 0.78.

MetLife (NYSE:METGet Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $19.67 billion. During the same period in the prior year, the business posted $2.02 EPS. MetLife’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that MetLife, Inc. will post 9.73 EPS for the current year.

MetLife declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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 given 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 payout ratio is presently 45.40%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen increased their price objective on MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Mizuho lifted their price target on shares of MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Jefferies Financial Group boosted their price objective on shares of MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $102.21.

Get Our Latest Analysis on MET

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.

Further Reading

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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