1ST Source Bank Makes New $3.25 Million Investment in MetLife, Inc. $MET

Key Points

• 1ST Source Bank acquired a new $3.25 million stake in MetLife during the second quarter, purchasing 38,418 shares. Institutional investors collectively own 94.99% of the company.
• MetLife reported quarterly EPS of $2.43, beating estimates by $0.13, while revenue increased 10.5% year over year. The company also declared a $0.5925 quarterly dividend and authorized a $3 billion share-repurchase program.
• Wall Street maintains a generally positive outlook, with one Strong Buy, 11 Buy, and two Hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $101.07 versus the reported share price of $97.57.

1ST Source Bank acquired a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,418 shares of the financial services provider's stock, valued at approximately $3,251,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after buying an additional 351 shares during the last quarter. Caxton Associates LLP bought a new position in MetLife during the first quarter valued at approximately $307,000. Empowered Funds LLC grew its position in MetLife by 187.6% during the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock valued at $2,680,000 after acquiring an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MetLife during the second quarter worth approximately $404,000. Finally, Jump Financial LLC bought a new stake in shares of MetLife in the 2nd quarter worth approximately $444,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Down 0.1%

Shares of MetLife stock opened at $97.57 on Monday. The stock has a market capitalization of $62.78 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. The company has a 50-day simple moving average of $91.52 and a two-hundred day simple moving average of $81.58. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $100.93. 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 announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.13. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. On average, analysts anticipate that MetLife, Inc. will post 9.7 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) is 45.40%.

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

Wall Street Analysts Forecast Growth

MET has been the topic of several recent research reports. Atlantic Securities set a $103.00 target price on shares of MetLife in a report on Wednesday, July 15th. Jefferies Financial Group upped their price target on shares of MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 10th. Weiss Ratings raised shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $105.00 to $108.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.07.

MetLife Company 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.

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