Glenview Trust Co Takes Position in MetLife, Inc. $MET

Key Points

• Glenview Trust Co. bought 39,743 MetLife shares during the second quarter, valued at approximately $3.36 million. Institutional investors collectively own nearly 95% of the company.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus the $2.30 consensus, while revenue rose 10.5% year over year. The company also authorized a $3 billion share-repurchase program.
• MetLife pays a quarterly dividend of $0.5925 per share, representing a 2.5% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $102.21.

Glenview Trust Co bought a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,743 shares of the financial services provider's stock, valued at approximately $3,363,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife during the second quarter valued at $26,000. Activest Wealth Management increased its stake in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Burk Holdings LLC acquired a new position in shares of MetLife during the 2nd quarter worth about $27,000. Garton & Associates Financial Advisors LLC purchased a new position in MetLife in the 4th quarter valued at about $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Down 0.3%

MET stock opened at $96.21 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. The firm has a 50-day moving average of $93.17 and a two-hundred day moving average of $82.74. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. The company has a market cap of $61.90 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.74 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.13. The business had revenue of $13.52 billion for 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 business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 EPS. As a group, analysts forecast that MetLife, Inc. will post 9.73 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has initiated 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 repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

MetLife Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore reissued a "mixed" rating on shares of MetLife in a report on Monday. Wells Fargo & Company lifted their price target on MetLife from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Mizuho boosted their price target on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Morgan Stanley increased their price objective on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MetLife presently has an average rating of "Buy" and a consensus price target of $102.21.

MetLife Company 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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