MetLife, Inc. $MET Stock Position Lifted by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in MetLife, Inc. by 8.3%, acquiring an additional 78,069 shares, bringing its total to 1,022,274 shares valued at $81.35 million.
• MetLife's quarterly earnings report showed a miss on earnings per share, with $2.02 reported compared to a $2.32 consensus estimate, and revenue fell short at $17.34 billion.
• The company's board has authorized a $3.00 billion share buyback program, indicating confidence in the company's valuation, with plans to repurchase up to 5.9% of its shares.

Aberdeen Group plc grew its position in MetLife, Inc. (NYSE:MET - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022,274 shares of the financial services provider's stock after purchasing an additional 78,069 shares during the period. Aberdeen Group plc owned approximately 0.15% of MetLife worth $81,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of MetLife by 4.8% during the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider's stock valued at $33,937,000 after buying an additional 19,192 shares during the period. Ritholtz Wealth Management raised its holdings in shares of MetLife by 52.1% during the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider's stock valued at $751,000 after buying an additional 3,204 shares during the period. Pinnacle Financial Partners Inc purchased a new stake in shares of MetLife during the 1st quarter valued at about $255,000. Mirae Asset Global Investments Co. Ltd. raised 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 stake in shares of MetLife during the 1st quarter valued at about $516,000. 94.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company reiterated 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. Barclays lifted their price objective on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods dropped their price objective on MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lifted their price objective on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.60.

MetLife Stock Performance

MET traded up $0.4440 during trading on Wednesday, reaching $79.1640. 1,534,596 shares of the company were exchanged, compared to its average volume of 3,402,443. The stock has a market cap of $52.65 billion, a P/E ratio of 13.42, a PEG ratio of 0.69 and a beta of 0.85. The firm has a 50 day moving average of $77.82 and a 200 day moving average of $78.60. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). The company had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.MetLife's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 earnings per share. On average, sell-side analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife declared that its board has initiated a stock buyback program on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be paid a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio is presently 38.47%.

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.