Freemont Management S.A. Boosts Stake in MetLife, Inc. (NYSE:MET)

Key Points

• Freemont Management S.A. increased its holdings in MetLife, Inc. by 82.9%, owning $1.90 million worth of shares after a significant purchase of additional shares during the 1st quarter.
• MetLife reported earnings per share (EPS) of $1.96 for the last quarter, falling short of the consensus estimate of $2.00, while revenue increased by 15.6% year-over-year.
• The company announced a quarterly dividend of $0.5675 per share and initiated a stock buyback program authorizing the repurchase of up to $3.00 billion in shares, suggesting management believes the stock is undervalued.

Freemont Management S.A. increased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 82.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,600 shares of the financial services provider's stock after purchasing an additional 10,700 shares during the period. Freemont Management S.A.'s holdings in MetLife were worth $1,895,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MET. Brighton Jones LLC increased its position in shares of MetLife by 9.0% during the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after purchasing an additional 351 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of MetLife by 39.1% during the 4th quarter. Modern Wealth Management LLC now owns 7,560 shares of the financial services provider's stock valued at $628,000 after acquiring an additional 2,124 shares during the period. TIAA Trust National Association lifted its position in shares of MetLife by 8.7% during the 4th quarter. TIAA Trust National Association now owns 9,855 shares of the financial services provider's stock valued at $807,000 after acquiring an additional 788 shares during the period. Financial Engines Advisors L.L.C. bought a new stake in shares of MetLife during the 4th quarter worth $216,000. Finally, Graney & King LLC bought a new stake in shares of MetLife during the 4th quarter worth $34,000. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of NYSE MET traded up $0.74 during mid-day trading on Friday, hitting $78.53. The company had a trading volume of 2,227,602 shares, compared to its average volume of 2,461,158. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 0.64 and a beta of 0.85. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The stock's 50-day moving average price is $78.67 and its 200-day moving average price is $79.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a return on equity of 20.89% and a net margin of 6.08%. The firm had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.06 billion. During the same period last year, the firm earned $1.83 EPS. The company's revenue for the quarter was up 15.6% on a year-over-year basis. On average, sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a $0.5675 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $2.27 annualized dividend and a yield of 2.89%. MetLife's payout ratio is currently 36.91%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MET shares. Piper Sandler upped their target price on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company reiterated an "overweight" rating and issued a $97.00 price target (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. UBS Group raised their target price on MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Finally, Barclays raised their target price on MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.09.

MetLife Company 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.