Emerald Investment Advisers LLC Invests $3.46 Million in MetLife, Inc. $MET

Key Points

• Emerald Investment Advisers acquired 40,917 MetLife shares worth approximately $3.46 million in the second quarter. Institutional investors collectively own about 94.99% of the company’s stock.
• MetLife reported quarterly EPS of $2.43, ahead of the $2.30 consensus estimate, while revenue rose 10.5% year over year to $13.52 billion.
• The company declared a quarterly dividend of $0.5925, equivalent to a 2.5% annualized yield, and authorized a $3 billion share-repurchase program covering up to 4.8% of outstanding shares.

Emerald Investment Advisers LLC 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 Securities & Exchange Commission. The institutional investor acquired 40,917 shares of the financial services provider's stock, valued at approximately $3,462,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in shares of MetLife during the second quarter valued at approximately $1,302,000. Sumitomo Life Insurance Co. bought a new stake in shares of MetLife in the 2nd quarter worth approximately $220,000. Landscape Capital Management L.L.C. bought a new stake in shares of MetLife in the 2nd quarter worth approximately $2,039,000. Korea Investment CORP purchased a new stake in shares of MetLife in the 2nd quarter worth approximately $19,580,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of MetLife in the 2nd quarter worth approximately $1,857,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Trading Up 1.0%

Shares of MET stock opened at $94.44 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The stock has a market capitalization of $60.77 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.73 and a beta of 0.78. The firm's 50 day moving average is $92.41 and its 200 day moving average is $82.17.

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, beating the consensus estimate of $2.30 by $0.13. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 EPS. Research analysts expect that MetLife, Inc. will post 9.72 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.5%. MetLife's dividend payout ratio (DPR) is presently 45.40%.

MetLife announced that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Wall Street Zen upgraded MetLife to a Buy rating, providing a favorable near-term sentiment catalyst for MetLife, Inc. NYSE: MET. MetLife Upgraded by Wall Street Zen to Buy Rating
• Positive Sentiment: Dowling & Partners issued a positive outlook for MetLife’s earnings, reinforcing expectations for continued operating strength. This view follows the company’s latest reported quarter, when earnings per share exceeded consensus estimates and revenue increased year over year. DOWLING & PARTN Issues Positive Outlook for MetLife Earnings
• Neutral Sentiment: A review of life-insurance companies’ second-quarter results benchmarks MetLife NYSE: MET against its industry peers. The article may help investors assess relative performance, but the headline does not identify a new company-specific catalyst. Life Insurance Stocks Q2 Recap: Benchmarking MetLife
• Neutral Sentiment: Multiple articles cover Bruno Mars’ concerts, schedules, weather, ticket availability and fan experience at MetLife Stadium. Although potentially relevant to the stadium’s venue business, MetLife, Inc. is an insurance and financial-services company; the stadium’s naming rights do not make these events a material direct driver of MET shares. Bruno Mars Opens Four Nights at MetLife Tonight

Analyst Ratings Changes

Several equities analysts have recently weighed in on MET shares. Weiss Ratings upgraded MetLife from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 15th. Jefferies Financial Group increased their price objective on shares of MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of MetLife from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. UBS Group lifted their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Barclays upped their target price on shares of MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.64.

About MetLife

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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