Brooklyn Investment Group Acquires 3,292 Shares of MetLife, Inc. $MET

Key Points

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Brooklyn Investment Group grew its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 110.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,281 shares of the financial services provider's stock after buying an additional 3,292 shares during the quarter. Brooklyn Investment Group's holdings in MetLife were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MET. Price T Rowe Associates Inc. MD lifted its holdings in shares of MetLife by 33.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,663,239 shares of the financial services provider's stock valued at $2,019,427,000 after acquiring an additional 6,213,923 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in MetLife in the first quarter worth about $336,965,000. Nuveen LLC bought a new stake in MetLife in the first quarter worth about $312,946,000. Northern Trust Corp lifted its stake in MetLife by 15.7% in the fourth quarter. Northern Trust Corp now owns 7,052,202 shares of the financial services provider's stock worth $577,434,000 after purchasing an additional 958,458 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in MetLife by 8,789.6% in the first quarter. GAMMA Investing LLC now owns 815,889 shares of the financial services provider's stock worth $65,508,000 after purchasing an additional 806,711 shares during the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday, August 11th. Barclays lifted their price objective on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley cut their price objective on shares of MetLife from $98.00 to $94.00 and set an "overweight" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.60.

MetLife Stock Up 0.6%

MET stock opened at $77.77 on Tuesday. The company has a market cap of $51.72 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.69 and a beta of 0.85. 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 12 month low of $65.21 and a 12 month high of $89.05. The firm has a 50-day moving average of $77.84 and a two-hundred day moving average of $78.60.

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). The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%. The firm's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 EPS. As a group, analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

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 given a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's payout ratio is 38.47%.

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

MetLife 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.

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