135,186 MetLife, Inc. $MET Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its MetLife stake by 159.3% in the third quarter, purchasing 135,186 additional shares and bringing its holdings to 220,050 shares valued at approximately $20.7 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 94.99% of MetLife’s outstanding stock. The company also authorized a $3 billion share repurchase program, representing up to 4.8% of shares.
• MetLife reported quarterly EPS of $2.43, exceeding estimates of $2.30, while revenue rose 10.5% year over year. Analysts maintain a “Moderate Buy” consensus, with an average price target of $105.44, and the company pays an annualized dividend of $2.37 per share.

Robeco Institutional Asset Management B.V. boosted its stake in MetLife, Inc. (NYSE:MET - Free Report) by 159.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,050 shares of the financial services provider's stock after buying an additional 135,186 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in MetLife were worth $20,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of MetLife during the second quarter valued at about $4,381,692,000. Pzena Investment Management LLC purchased a new stake in shares of MetLife in the 2nd quarter valued at approximately $941,792,000. Bank of America Corp DE acquired a new position in shares of MetLife in the 2nd quarter worth approximately $455,424,000. Legal & General Group Plc acquired a new position in shares of MetLife in the 2nd quarter worth approximately $326,904,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of MetLife during the 2nd quarter worth approximately $293,287,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Down 4.5%

Shares of MET stock opened at $98.86 on Friday. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $103.65. The company has a 50 day moving average price of $97.27 and a 200 day moving average price of $89.81. The stock has a market capitalization of $63.61 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $19.67 billion. During the same period in the prior year, the business earned $2.02 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife declared that its board has approved a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Share buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 3rd. MetLife's dividend payout ratio (DPR) is presently 45.40%.

Analyst Ratings Changes

Several analysts recently weighed in on MET shares. Jefferies Financial Group lifted their target price on shares of MetLife from $103.00 to $115.00 and gave the company a "buy" rating in a report on Monday, August 10th. Weiss Ratings restated a "buy (b)" rating on shares of MetLife in a research note on Friday, September 11th. Piper Sandler upgraded MetLife from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $99.00 to $110.00 in a research report on Tuesday, September 22nd. Wells Fargo & Company lifted their price objective on MetLife from $109.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Finally, Argus boosted their price objective on MetLife from $93.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, MetLife has a consensus rating of "Moderate Buy" and an average target price of $105.44.

MetLife Company 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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