Louisiana State Employees Retirement System Takes Position in MetLife, Inc. $MET

Key Points

• Louisiana State Employees Retirement System opened a new position in MetLife during the first quarter, buying 28,100 shares valued at about $1.99 million.
• Institutional interest in MetLife remains strong, with several other hedge funds and asset managers also adding shares; 94.99% of the stock is now owned by institutions and hedge funds.
• MetLife has seen generally favorable business and market updates, including a recent earnings beat on EPS and a higher quarterly dividend of $0.5925 per share, which implies a 2.8% yield.

Louisiana State Employees Retirement System purchased a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,100 shares of the financial services provider's stock, valued at approximately $1,987,000.

Several other institutional investors also recently bought and sold shares of MET. Brighton Jones LLC increased its position in shares of MetLife by 9.0% during the fourth 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 in the last quarter. Caxton Associates LLP acquired a new stake in MetLife during the 1st quarter worth $307,000. Empowered Funds LLC boosted its stake in MetLife by 187.6% during the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock worth $2,680,000 after purchasing an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MetLife during the second quarter worth $404,000. Finally, Jump Financial LLC acquired a new stake in shares of MetLife in the second quarter valued at about $444,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: CNBC highlighted MetLife as an insurance stock with strong momentum and noted it may still be underpriced relative to its life insurance and benefits fundamentals, which could support investor sentiment. This insurance stock is on an impressive run. How to ride the momentum with less risk
• Positive Sentiment: MetLife issued a preliminary update showing Q2 variable investment income is expected to land between $220 million and $270 million, which gives investors a fresh read on a key earnings driver. MetLife Issues Cautious Update on Variable Investment Income
• Neutral Sentiment: Several articles about World Cup matches at MetLife Stadium, ticket sales, weather, travel, and parking are driving attention to the venue, but they are unlikely to materially affect MetLife’s insurance business or stock valuation.
• Neutral Sentiment: Coverage of France’s complaints about the MetLife Stadium turf adds some controversy around the venue, but this is more of a sports headline than a meaningful corporate issue for MetLife shareholders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MET shares. Morgan Stanley boosted their price target on shares of MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Bank of America decreased their target price on shares of MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings upgraded MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 15th. Mizuho set a $95.00 price target on MetLife in a report on Friday, May 8th. Finally, Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, MetLife has an average rating of "Moderate Buy" and an average price target of $95.62.

MetLife Stock Performance

NYSE:MET opened at $84.68 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $54.48 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.64 and a beta of 0.78. The company's 50-day moving average is $82.41 and its two-hundred day moving average is $78.17. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $89.62.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. Analysts forecast that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.8%. This is a positive change from MetLife's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. MetLife's payout ratio is 45.93%.

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.

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.