MetLife, Inc. $MET Shares Acquired by Amundi

Key Points

• Amundi increased its MetLife stake by 41.7% in the second quarter, acquiring 1.07 million shares and bringing its total holdings to 3.63 million shares valued at approximately $306.9 million. Institutional investors collectively own nearly 95% of MetLife.
• 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 authorized a $3 billion share-repurchase program covering up to 4.8% of outstanding shares.
• MetLife declared a quarterly dividend of $0.5925 per share, equivalent to a $2.37 annualized payout and a 2.4% yield. Analysts maintain a consensus “Buy” rating with an average price target of $102.21.

Amundi increased its stake in MetLife, Inc. (NYSE:MET - Free Report) by 41.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,627,717 shares of the financial services provider's stock after acquiring an additional 1,067,771 shares during the period. Amundi owned approximately 0.56% of MetLife worth $306,941,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new position in MetLife during the 2nd quarter worth approximately $2,683,000. Bank of Nova Scotia acquired a new position in MetLife in the 2nd quarter worth about $14,182,000. Daiichi Life Insurance Co. Ltd. acquired a new position in MetLife in the second quarter worth approximately $8,329,000. Redwood Investment Management LLC bought a new position in shares of MetLife during the 2nd quarter valued at $1,169,000. Finally, Bessemer Group Inc. raised its holdings in MetLife by 1.0% during the first quarter. Bessemer Group Inc. now owns 1,905,684 shares of the financial services provider's stock valued at $134,770,000 after buying an additional 18,151 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Down 0.1%

Shares of NYSE:MET opened at $97.51 on Tuesday. The company has a 50 day moving average of $94.65 and a 200-day moving average of $83.68. The stock has a market cap of $62.74 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 0.94 and a beta of 0.77. MetLife, Inc. has a one year low of $67.33 and a one year high of $100.93. 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 (NYSE:MET - Get Free Report) last posted 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 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 the consensus estimate of $19.67 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that MetLife, Inc. will post 9.76 earnings per share for the current year.

MetLife announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders 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 yield of 2.4%. MetLife's dividend payout ratio (DPR) is 45.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MET shares. Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Morgan Stanley upped their price target on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Jefferies Financial Group raised their price objective on shares of MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Piper Sandler boosted their price target on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $102.21.

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.

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