Landscape Capital Management L.L.C. Invests $2.04 Million in MetLife, Inc. $MET

Key Points

• Landscape Capital Management initiated a $2.04 million position in MetLife during the second quarter, while institutional investors collectively own approximately 95% of the company’s shares.
• Analysts maintain a favorable outlook, with MetLife carrying a consensus “Moderate Buy” rating and an average price target of $101.64, above its reported $94.44 share price.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus the $2.30 consensus estimate, and announced a $3 billion share-repurchase program alongside a quarterly dividend of $0.5925 per share.

Landscape Capital Management L.L.C. purchased a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,099 shares of the financial services provider's stock, valued at approximately $2,039,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Activest Wealth Management raised its stake in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife in the 2nd quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new position in MetLife in the 4th quarter worth approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of MetLife in the 4th quarter worth $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of MetLife during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MET shares. Piper Sandler lifted their price objective on shares of MetLife from $86.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. Morgan Stanley raised their price target on MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Wall Street Zen raised MetLife from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho upped their price objective on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Finally, TD Cowen raised their price objective on MetLife from $87.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.64.

MetLife Trading Up 1.0%

Shares of MET stock opened at $94.44 on Friday. The business has a 50-day moving average of $92.41 and a 200 day moving average of $82.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $100.93. The stock has a market capitalization of $60.77 billion, a PE ratio of 18.09, a P/E/G ratio of 0.73 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 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 business had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $19.67 billion. During the same period in the previous year, the firm earned $2.02 EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that MetLife, Inc. will post 9.72 earnings per share for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife's dividend payout ratio (DPR) is currently 45.40%.

MetLife announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Wall Street Zen upgraded MetLife to a Buy rating, providing a favorable near-term sentiment catalyst for MetLife, Inc. NYSE: MET. MetLife Upgraded by Wall Street Zen to Buy Rating
• Positive Sentiment: Dowling & Partners issued a positive outlook for MetLife’s earnings, reinforcing expectations for continued operating strength. This view follows the company’s latest reported quarter, when earnings per share exceeded consensus estimates and revenue increased year over year. DOWLING & PARTN Issues Positive Outlook for MetLife Earnings
• Neutral Sentiment: A review of life-insurance companies’ second-quarter results benchmarks MetLife NYSE: MET against its industry peers. The article may help investors assess relative performance, but the headline does not identify a new company-specific catalyst. Life Insurance Stocks Q2 Recap: Benchmarking MetLife
• Neutral Sentiment: Multiple articles cover Bruno Mars’ concerts, schedules, weather, ticket availability and fan experience at MetLife Stadium. Although potentially relevant to the stadium’s venue business, MetLife, Inc. is an insurance and financial-services company; the stadium’s naming rights do not make these events a material direct driver of MET shares. Bruno Mars Opens Four Nights at MetLife Tonight

About MetLife

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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