International Assets Investment Management LLC Purchases 17,054 Shares of MetLife, Inc. $MET

Key Points

• International Assets Investment Management LLC more than doubled its MetLife position, acquiring 17,054 shares to hold 31,000 shares valued at approximately $2.9 million. Institutional investors and hedge funds own 94.99% of MetLife’s outstanding stock.
• MetLife reported quarterly EPS of $2.43, exceeding expectations of $2.30, while revenue increased 10.5% year over year. The company also authorized a $3 billion share-repurchase program and declared a quarterly dividend of $0.5925 per share, representing a 2.3% yield.
• Wall Street sentiment remains positive, with 13 analysts rating MetLife a Buy and two assigning a Hold rating. The stock has a “Moderate Buy” consensus and an average price target of $105.44, compared with its reported share price of $100.92.

International Assets Investment Management LLC boosted its position in MetLife, Inc. (NYSE:MET - Free Report) by 122.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,000 shares of the financial services provider's stock after acquiring an additional 17,054 shares during the period. International Assets Investment Management LLC's holdings in MetLife were worth $2,919,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MET. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in MetLife in the 2nd quarter valued at about $26,000. Burk Holdings LLC purchased a new position in shares of MetLife during the 2nd quarter worth about $27,000. Nvwm LLC lifted its holdings in shares of MetLife by 655.3% during the 3rd quarter. Nvwm LLC now owns 287 shares of the financial services provider's stock worth $27,000 after acquiring an additional 249 shares during the period. Highland Investment Advisors LLC acquired a new stake in shares of MetLife in the second quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider's stock worth $34,000 after acquiring an additional 200 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Up 0.9%

Shares of NYSE MET opened at $100.92 on Tuesday. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $103.65. The company has a market cap of $64.94 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.94 and a beta of 0.78. 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 stock has a fifty day moving average price of $97.82 and a 200 day moving average price of $85.80.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The company had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $19.67 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The firm's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $3 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.3%. MetLife's payout ratio is 45.40%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MET. Atlantic Securities set a $103.00 price objective on shares of MetLife in a research note on Wednesday, July 15th. Argus increased their target price on MetLife from $93.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Morgan Stanley lifted their target price on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Evercore reissued a "mixed" rating on shares of MetLife in a research report on Monday, August 24th. Finally, Wells Fargo & Company upped their price target on MetLife from $109.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.44.

MetLife Company Profile

MetLife, Inc NYSE: MET is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.

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