Alyeska Investment Group L.P. Purchases Shares of 293,172 MetLife, Inc. $MET

Key Points

• Alyeska Investment Group acquired 293,172 MetLife shares worth approximately $24.8 million, while institutional investors collectively own 94.99% of the company.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus the $2.30 consensus estimate, with revenue up 10.5% year over year.
• The company authorized a $3 billion share repurchase program and declared a quarterly dividend of $0.5925 per share. Analysts maintain a consensus “Buy” rating with an average price target of $102.21.

Alyeska Investment Group L.P. acquired a new position in MetLife, Inc. (NYSE:MET - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 293,172 shares of the financial services provider's stock, valued at approximately $24,805,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in MetLife in the second quarter valued at about $26,000. Burk Holdings LLC bought a new position in MetLife during the second quarter worth about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife during the fourth quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife during the fourth quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of MetLife in the 4th quarter valued at approximately $31,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Trading Down 1.3%

Shares of MET opened at $95.25 on Tuesday. The stock's fifty day simple moving average is $93.54 and its 200-day simple moving average is $83.00. The firm has a market capitalization of $61.29 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same period last year, the company earned $2.02 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that MetLife, Inc. will post 9.74 earnings per share for the current year.

MetLife declared that its board has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife's payout ratio is 45.40%.

Analyst Ratings Changes

Several research firms have issued reports on MET. Morgan Stanley increased their price objective on MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Wells Fargo & Company upped their target price on shares of MetLife from $101.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. UBS Group increased their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Barclays boosted their price target on shares of MetLife from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $102.21.

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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