ABC Arbitrage SA Invests $3.40 Million in MetLife, Inc. (NYSE:MET)

Key Points

• ABC Arbitrage SA has acquired a new stake in MetLife, Inc., purchasing 42,384 shares valued at approximately $3.40 million.
• The company recently announced a quarterly dividend of $0.5675, resulting in an annualized dividend yield of 3.0%, with a payout ratio of 36.91%.
• Analysts have mixed ratings on MetLife, with ten analysts rating it as "buy" and a consensus price target of $96.10.

ABC Arbitrage SA bought a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 42,384 shares of the financial services provider's stock, valued at approximately $3,403,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First Horizon Advisors Inc. grew its stake in shares of MetLife by 4.8% in the first quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider's stock worth $33,937,000 after acquiring an additional 19,192 shares during the period. Ritholtz Wealth Management grew its position in MetLife by 52.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider's stock worth $751,000 after purchasing an additional 3,204 shares during the period. Pinnacle Financial Partners Inc purchased a new stake in MetLife during the 1st quarter valued at $255,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MetLife by 20.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider's stock valued at $4,735,000 after buying an additional 10,414 shares during the period. Finally, Heartland Bank & Trust Co purchased a new position in shares of MetLife in the 1st quarter worth $516,000. Institutional investors own 94.99% of the company's stock.

MetLife Price Performance

MET traded down $2.17 during trading on Thursday, reaching $73.78. 5,631,253 shares of the company traded hands, compared to its average volume of 3,140,381. The company has a market cap of $49.53 billion, a P/E ratio of 12.51, a PEG ratio of 0.62 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The firm has a fifty day simple moving average of $78.13 and a 200 day simple moving average of $79.17.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). MetLife had a net margin of 5.83% and a return on equity of 19.72%. The company had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The business's revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is 38.47%.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $97.00 target price (up from $94.00) on shares of MetLife in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, UBS Group reduced their price target on MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.40.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.