IPG Investment Advisors LLC Makes New Investment in MetLife, Inc. $MET

Key Points

• IPG Investment Advisors purchased 22,623 MetLife shares worth approximately $1.9 million in the second quarter. Institutional investors collectively own 94.99% of the company, with several major firms also building positions.
• MetLife reported quarterly earnings of $2.43 per share, beating estimates of $2.30, while revenue rose 10.5% year over year to $13.52 billion. The company also pays a $2.37 annualized dividend, yielding about 2.5%, and authorized a $3 billion share buyback.
• Wall Street maintains a broadly positive view, with an average rating of “Buy” and a consensus price target of $102.21. MetLife shares recently traded at $95.82, near their 52-week high of $100.93.

IPG Investment Advisors LLC purchased a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 22,623 shares of the financial services provider's stock, valued at approximately $1,914,000.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in shares of MetLife by 8,029.0% in the second quarter. California State Teachers Retirement System now owns 73,771,290 shares of the financial services provider's stock worth $6,241,789,000 after purchasing an additional 72,863,779 shares during the last quarter. BlackRock Inc. bought a new position in MetLife in the second quarter worth about $4,381,692,000. Pzena Investment Management LLC bought a new position in shares of MetLife during the 2nd quarter worth approximately $941,792,000. Norges Bank purchased a new stake in shares of MetLife during the 4th quarter valued at $639,986,000. Finally, Bank of America Corp DE purchased a new stake in MetLife in the second quarter valued at about $455,424,000. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of MetLife stock opened at $95.82 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market cap of $61.65 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The business's fifty day simple moving average is $95.04 and its 200-day simple moving average is $83.91. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $100.93.

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 analysts' consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $13.52 billion during the quarter, compared to analysts' expectations of $19.67 billion. During the same period last year, the business earned $2.02 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts forecast that MetLife, Inc. will post 9.78 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 4th. MetLife's payout ratio is currently 45.40%.

MetLife announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MET shares. TD Cowen raised their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price objective on MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Jefferies Financial Group raised their target price on MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Morgan Stanley boosted their price target on shares of MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. Finally, Wall Street Zen raised MetLife from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $102.21.

MetLife Profile

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

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.

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