Banque Cantonale Vaudoise Acquires 19,019 Shares of MetLife, Inc. $MET

Key Points

• Banque Cantonale Vaudoise increased its MetLife stake by 61.9% in the first quarter, buying 19,019 additional shares and bringing its total to 49,756 shares worth about $3.52 million.
• MetLife reported better-than-expected earnings of $2.42 per share for the latest quarter, though revenue came in below estimates at $14.18 billion. Analysts still expect the company to earn about 9.98 EPS for the full fiscal year.
• The company also raised its quarterly dividend to $0.5925 per share, or $2.37 annually, for a yield of 2.8%. Meanwhile, Wall Street remains broadly positive, with a consensus rating of Moderate Buy and an average target price of $95.62.

Banque Cantonale Vaudoise raised its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,756 shares of the financial services provider's stock after buying an additional 19,019 shares during the quarter. Banque Cantonale Vaudoise's holdings in MetLife were worth $3,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MET. Vanguard Group Inc. increased its position in MetLife by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock valued at $5,727,518,000 after buying an additional 7,805,814 shares in the last quarter. Dodge & Cox raised its stake in MetLife by 0.9% during the 3rd quarter. Dodge & Cox now owns 53,659,664 shares of the financial services provider's stock worth $4,419,947,000 after buying an additional 477,783 shares during the period. Wellington Management Group LLP boosted its holdings in MetLife by 1.5% in the third quarter. Wellington Management Group LLP now owns 12,572,807 shares of the financial services provider's stock worth $1,035,622,000 after acquiring an additional 180,683 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in MetLife by 22.9% in the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider's stock worth $938,071,000 after acquiring an additional 2,211,315 shares in the last quarter. Finally, Norges Bank acquired a new stake in MetLife in the fourth quarter valued at approximately $639,986,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Price Performance

MET opened at $84.51 on Friday. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $89.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $54.38 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.63 and a beta of 0.78. The firm's fifty day moving average price is $81.93 and its two-hundred day moving average price is $78.02.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that MetLife, Inc. will post 9.98 earnings per share for the current fiscal year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 annualized dividend and a dividend yield of 2.8%. This is an increase from MetLife's previous quarterly dividend of $0.57. MetLife's payout ratio is 45.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MET. Morgan Stanley upped their target price on MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of MetLife from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $87.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. TD Cowen lowered their price objective on shares of MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Finally, Barclays raised their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.62.

Trending Headlines about MetLife

Here are the key news stories impacting MetLife this week:

• Negative Sentiment: World Cup coverage has highlighted complaints from players about the turf at MetLife Stadium, with some praising other venues and “trashing MetLife,” reinforcing criticism of the stadium’s field conditions. World Cup players split on turf, praising SoFi while trashing MetLife
• Negative Sentiment: Additional reports said NFL players blasted the MetLife turf, keeping the criticism of the stadium in the spotlight and potentially weighing on brand perception. NFL players blast MetLife turf as World Cup grass fuels debate
• Neutral Sentiment: There were also upbeat event-related headlines, including fans packing MetLife Stadium for World Cup matches and excitement around high-profile games, which supports strong attendance and traffic but does not directly change MetLife’s fundamentals. Ecuador, Germany fans pack MetLife for World Cup group match
• Neutral Sentiment: MetLife also had corporate visibility from a new study on resilience and confidence, plus coverage of its broader “confident futures” initiative, but these are mainly brand/PR updates rather than clear near-term stock movers. New MetLife Study Reveals a 72% "Confidence Gap" in Ability to Recover from Life's Setbacks
• Neutral Sentiment: Reports about ticket prices, offsite tailgates, weather delays, and player arrivals at MetLife Stadium are mostly event noise and do not materially affect the insurer’s core business. What do tickets cost for the England vs. Panama World Cup match at MetLife?

MetLife 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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