11,625 MetLife, Inc. $MET Shares Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board increased its MetLife stake by 70.3% in the third quarter, acquiring 11,625 shares and bringing its holdings to 28,170 shares valued at approximately $2.65 million.
• Analysts remain broadly positive on MetLife, with 13 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $105.44.
• MetLife reported quarterly EPS of $2.43, beating estimates, and maintains shareholder returns through a quarterly dividend yielding about 2.3% and a $3 billion share-repurchase authorization.

North Dakota State Investment Board grew its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 70.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,170 shares of the financial services provider's stock after acquiring an additional 11,625 shares during the quarter. North Dakota State Investment Board's holdings in MetLife were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nvwm LLC increased its stake in MetLife by 655.3% during the 3rd quarter. Nvwm LLC now owns 287 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 249 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in MetLife during the second quarter worth $26,000. Burk Holdings LLC bought a new position in shares of MetLife in the second quarter valued at $27,000. Highland Investment Advisors LLC bought a new position in shares of MetLife in the second quarter valued at $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of MetLife by 123.5% during the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider's stock valued at $34,000 after buying an additional 200 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

Analyst Upgrades and Downgrades

MET has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of MetLife from $108.00 to $110.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a research report on Friday, September 11th. Barclays lifted their price target on MetLife from $97.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Evercore reissued a "mixed" rating on shares of MetLife in a research note on Monday, August 24th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.44.

MetLife Trading Up 1.3%

Shares of MET stock opened at $100.92 on Friday. 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 firm has a market cap of $64.94 billion, a P/E ratio of 10.20, a PEG ratio of 0.94 and a beta of 0.78. The company has a 50 day moving average of $97.56 and a 200-day moving average of $85.57. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $103.65.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping 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 analyst estimates of $19.67 billion. During the same quarter last year, the firm posted $2.02 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife's dividend payout ratio (DPR) is presently 45.40%.

MetLife declared that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that allows the company to repurchase $3 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its shares through open market purchases. Share buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

MetLife Profile

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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