Empowered Funds LLC Has $6.62 Million Stake in MetLife, Inc. $MET

Key Points

• Empowered Funds LLC increased its MetLife stake by 81.3% in the first quarter, owning 93,574 shares valued at approximately $6.62 million. Institutional investors collectively hold 94.99% of MetLife’s stock.
• Analysts remain broadly positive, with one Strong Buy, 11 Buy, and two Hold ratings. The stock has an average “Moderate Buy” rating and a consensus price target of $100.50.
• MetLife’s latest earnings exceeded expectations, with adjusted EPS of $2.42 versus a $2.27 consensus estimate. The company also declared a quarterly dividend of $0.5925 per share, representing a 2.5% annualized yield.

Empowered Funds LLC increased its position in MetLife, Inc. (NYSE:MET - Free Report) by 81.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,574 shares of the financial services provider's stock after purchasing an additional 41,951 shares during the period. Empowered Funds LLC's holdings in MetLife were worth $6,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Activest Wealth Management lifted its stake in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after buying an additional 212 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of MetLife in the 4th quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the 4th quarter worth about $31,000. Finally, Prosperity Bancshares Inc bought a new position in MetLife in the 4th quarter valued at about $31,000. Institutional investors own 94.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MET shares. Jefferies Financial Group boosted their price objective on MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Wells Fargo & Company raised their target price on MetLife from $95.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. TD Cowen lifted their target price on MetLife from $87.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Evercore set a $96.00 price target on MetLife in a research report on Thursday, April 9th. Finally, Barclays raised their price objective on MetLife from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $100.50.

MetLife Trading Down 0.9%

NYSE:MET opened at $96.21 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market cap of $61.90 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $97.80. The firm has a 50-day moving average price of $88.67 and a two-hundred day moving average price of $80.13.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping 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 firm had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $19.49 billion. During the same quarter last year, the firm earned $1.96 EPS. The company's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) is 45.93%.

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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