Farther Finance Advisors LLC Acquires 13,741 Shares of MetLife, Inc. $MET

Key Points

• Farther Finance Advisors increased its MetLife position by 52.9% in the third quarter, purchasing 13,741 additional shares for a total of 39,725 shares valued at approximately $3.74 million. Institutional investors collectively own 94.99% of MetLife’s stock.
• MetLife reported quarterly earnings of $2.43 per share, exceeding analysts’ $2.30 estimate, while revenue rose 10.5% year over year. The board also authorized a $3 billion share-repurchase program, equivalent to up to 4.8% of outstanding shares.
• The company declared a quarterly dividend of $0.5925 per share, or $2.37 annually, representing a 2.4% yield. Analysts maintain a consensus “Buy” rating with an average price target of $106.69, above the reported share price of $98.27.

Farther Finance Advisors LLC boosted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 52.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,725 shares of the financial services provider's stock after purchasing an additional 13,741 shares during the period. Farther Finance Advisors LLC's holdings in MetLife were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of MetLife during the 2nd quarter valued at approximately $4,381,692,000. Pzena Investment Management LLC purchased a new stake in shares of MetLife during the 2nd quarter worth approximately $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MetLife by 5.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider's stock worth $509,904,000 after purchasing an additional 336,794 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of MetLife in the 2nd quarter worth approximately $455,424,000. Finally, Legal & General Group Plc bought a new stake in shares of MetLife in the 2nd quarter worth approximately $326,904,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Price Performance

MetLife stock opened at $98.27 on Monday. MetLife, Inc. has a one year low of $67.33 and a one year high of $100.93. The business has a fifty day moving average price of $96.57 and a 200-day moving average price of $87.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $63.23 billion, a P/E ratio of 18.83, a PEG ratio of 0.93 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion during the quarter, compared to analysts' expectations of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 earnings per share. As a group, equities research analysts forecast that MetLife, Inc. will post 9.88 EPS for the current year.

MetLife declared that its board has approved a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. MetLife's dividend payout ratio is currently 45.40%.

Analysts Set New Price Targets

A number of research firms have issued reports on MET. Wells Fargo & Company raised their target price on MetLife from $101.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Morgan Stanley upped their price target on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. increased their price target on MetLife from $106.00 to $108.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of MetLife in a research note on Friday, September 11th. Finally, Evercore reissued a "mixed" rating on shares of MetLife in a report on Monday, August 24th. Twelve research analysts have rated the stock with a Buy rating. According to MarketBeat.com, MetLife presently has a consensus rating of "Buy" and a consensus price target of $106.69.

MetLife Company Profile

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.

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