Martingale Asset Management L P Has $2.87 Million Stock Holdings in MetLife, Inc. $MET

Key Points

• Martingale Asset Management L P significantly increased its stake in MetLife, Inc. by 1,205.6%, owning 35,709 shares valued at approximately $2.87 million.
• MetLife's quarterly earnings report revealed an EPS of $2.02, missing analysts' expectations, and a 2.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.5675, which equates to an annualized yield of 2.9%, and authorized a share buyback plan worth $3 billion.

Martingale Asset Management L P increased its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 1,205.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,709 shares of the financial services provider's stock after acquiring an additional 32,974 shares during the quarter. Martingale Asset Management L P's holdings in MetLife were worth $2,867,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Ball & Co Wealth Management Inc. acquired a new position in MetLife in the fourth quarter valued at about $25,000. Transce3nd LLC acquired a new position in MetLife in the fourth quarter valued at about $26,000. North Capital Inc. acquired a new position in MetLife in the first quarter valued at about $26,000. Quarry LP acquired a new position in MetLife in the fourth quarter valued at about $31,000. Finally, Motco lifted its stake in MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Up 0.1%

NYSE:MET opened at $79.1430 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $52.63 billion, a PE ratio of 13.41, a PEG ratio of 0.71 and a beta of 0.85. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The stock has a 50-day simple moving average of $77.82 and a 200 day simple moving average of $78.56.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). The firm had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. On average, sell-side analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is currently 38.47%.

MetLife declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, August 11th. Jefferies Financial Group increased their target price on MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. raised their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $97.00 price target (up previously from $94.00) on shares of MetLife in a research report on Thursday, July 10th. Finally, UBS Group dropped their price target on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.60.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.

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