Balefire LLC Makes New Investment in MetLife, Inc. $MET

Key Points

• Balefire LLC invested $267,000 in MetLife, Inc. by purchasing 3,326 shares during the second quarter.
• MetLife reported a loss in earnings per share for the last quarter, with $2.02 EPS against analyst expectations of $2.32 and revenues also falling short.
• The company's stock has recently seen a target price adjustment from analysts, indicating a range of opinions on its investment potential, with a consensus rating of "Buy."

Balefire LLC acquired a new position in MetLife, Inc. (NYSE:MET - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,326 shares of the financial services provider's stock, valued at approximately $267,000.

Other hedge funds have also recently made changes to their positions in the company. Ball & Co Wealth Management Inc. bought a new stake in shares of MetLife in the 4th quarter worth approximately $25,000. North Capital Inc. bought a new position in MetLife in the 1st quarter worth about $26,000. Motco lifted its stake in MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 212 shares during the period. WPG Advisers LLC purchased a new stake in shares of MetLife during the 1st quarter valued at about $46,000. Finally, American National Bank & Trust increased its position in shares of MetLife by 128.4% during the 1st quarter. American National Bank & Trust now owns 603 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 339 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Trading Up 0.1%

MET traded up $0.09 during mid-day trading on Friday, hitting $79.16. 8,848,968 shares of the stock were exchanged, compared to its average volume of 3,039,976. The firm's fifty day moving average is $78.30 and its two-hundred day moving average is $78.15. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The company has a market cap of $52.64 billion, a PE ratio of 13.42, a PEG ratio of 0.71 and a beta of 0.87. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company had revenue of $17.34 billion during the quarter, compared to analysts' expectations of $18.58 billion. During the same quarter last year, the business posted $2.28 earnings per share. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th were issued a $0.5675 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. MetLife's dividend payout ratio is currently 38.47%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $97.00 price objective (up from $94.00) on shares of MetLife in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cowen restated a "buy" rating on shares of MetLife in a research report on Friday, August 22nd. Barclays raised their price target on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, UBS Group reduced their target price on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.64.

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.