Callan Family Office LLC Invests $10.97 Million in MetLife, Inc. $MET

Key Points

• Callan Family Office bought 129,710 MetLife shares worth approximately $10.97 million in the second quarter. Institutional investors collectively own 94.99% of the company, with major additions from BlackRock, Pzena Investment Management and Vanguard.
• Analysts remain broadly positive on MetLife, with a consensus rating of “Moderate Buy” and an average price target of $101.64. Recent targets were raised by Wells Fargo, Jefferies and JPMorgan.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in adjusted EPS versus the $2.30 consensus, while revenue rose 10.5% year over year. The company also declared a $0.5925 quarterly dividend and authorized a $3 billion share buyback.

Callan Family Office LLC purchased a new position in MetLife, Inc. (NYSE:MET - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 129,710 shares of the financial services provider's stock, valued at approximately $10,975,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in MetLife in the second quarter worth $4,381,692,000. Pzena Investment Management LLC bought a new stake in MetLife in the second quarter valued at $941,792,000. Norges Bank acquired a new position in shares of MetLife during the fourth quarter valued at $639,986,000. Vanguard Group Inc. grew its position in shares of MetLife by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock worth $5,727,518,000 after acquiring an additional 7,805,814 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of MetLife in the 2nd quarter worth about $293,287,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of MetLife from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Wednesday. Wall Street Zen upgraded shares of MetLife from a "hold" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group raised their price target on shares of MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on MetLife from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Atlantic Securities set a $103.00 price objective on MetLife in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $101.64.

MetLife Stock Performance

Shares of MET opened at $94.44 on Friday. The firm has a market capitalization of $60.77 billion, a PE ratio of 18.09, a P/E/G ratio of 0.72 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $92.41 and a 200 day moving average price of $82.17. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $100.93.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results 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 net margin of 4.57% and a return on equity of 23.39%. The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same period in the previous year, the firm earned $2.02 EPS. MetLife's revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.72 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 8th. Stockholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. 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 currently 45.40%.

MetLife declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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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