Collaborative Fund Advisors LLC acquired a new stake in MetLife, Inc. (NYSE:MET – Free Report) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,513 shares of the financial services provider’s stock, valued at approximately $519,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of MetLife during the 2nd quarter worth approximately $4,381,692,000. Pzena Investment Management LLC purchased a new stake in MetLife in the 2nd quarter valued at approximately $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MetLife by 5.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock worth $509,904,000 after buying an additional 336,794 shares in the last quarter. Bank of America Corp DE purchased a new position in MetLife during the second quarter worth $455,424,000. Finally, Legal & General Group Plc purchased a new position in MetLife during the second quarter worth $326,904,000. 94.99% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Bank of America cut their target price on shares of MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Argus raised their price target on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Mizuho lowered their price target on shares of MetLife from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a research report on Friday, September 11th. Finally, Evercore reissued a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.44.
Get Our Latest Stock Report on MET
Trending Headlines about MetLife
Here are the key news stories impacting MetLife this week:
- Positive Sentiment: MetLife reported adjusted earnings of $2.78 per share, just above the $2.77 consensus estimate and up from $2.34 a year earlier. MarketBeat earnings results
- Positive Sentiment: Revenue was $19.91 billion, slightly above the $19.86 billion expected and 18.2% higher year over year, pointing to solid top-line growth. MetLife Q3 sales
- Neutral Sentiment: The company also released its third-quarter results and earnings-call presentation, but the supplied reports do not provide additional outlook or guidance details that would clarify the next growth drivers. MetLife financial results announcement
MetLife Trading Up 2.2%
NYSE:MET opened at $102.84 on Thursday. The stock has a market cap of $66.17 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. MetLife, Inc. has a one year low of $67.33 and a one year high of $103.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The business’s 50-day simple moving average is $98.05 and its 200 day simple moving average is $86.03.
MetLife (NYSE:MET – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.01. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The firm had revenue of $20.52 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the firm earned $2.34 EPS. MetLife’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts predict that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.
MetLife Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, November 3rd. MetLife’s payout ratio is 45.40%.
MetLife announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that authorizes the company to buy back $3 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
About MetLife
MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.
Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.
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