MetLife, Inc. $MET Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in MetLife, Inc. by 25.4% in Q2, now holding approximately 0.10% of the company valued at $53.48 million.
• MetLife's recent earnings report showed an EPS of $2.02, missing estimates, with revenue of $17.34 billion which was below expected figures.
• The company declared a quarterly dividend of $0.5675 per share, indicating a dividend yield of 2.8%, with the ex-dividend date set for November 4th.

TD Asset Management Inc raised its position in MetLife, Inc. (NYSE:MET - Free Report) by 25.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 664,993 shares of the financial services provider's stock after acquiring an additional 134,799 shares during the quarter. TD Asset Management Inc owned approximately 0.10% of MetLife worth $53,479,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its stake in MetLife by 5.2% in the second quarter. Wilmington Savings Fund Society FSB now owns 8,792 shares of the financial services provider's stock worth $707,000 after acquiring an additional 433 shares during the last quarter. Perfromance Wealth Partners LLC purchased a new position in MetLife in the second quarter worth approximately $639,000. Cornerstone Wealth Group LLC purchased a new position in MetLife in the second quarter worth approximately $214,000. Community Bank N.A. raised its position in shares of MetLife by 35.0% during the 2nd quarter. Community Bank N.A. now owns 20,579 shares of the financial services provider's stock worth $1,655,000 after acquiring an additional 5,335 shares in the last quarter. Finally, NorthRock Partners LLC raised its position in shares of MetLife by 32.0% during the 2nd quarter. NorthRock Partners LLC now owns 9,751 shares of the financial services provider's stock worth $784,000 after acquiring an additional 2,366 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Price Performance

MetLife stock opened at $81.66 on Thursday. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day simple moving average of $80.07 and a 200-day simple moving average of $78.15. The stock has a market capitalization of $54.31 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.75 and a beta of 0.86.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company had revenue of $17.34 billion for the quarter, compared to analysts' expectations of $18.58 billion. During the same quarter last year, the company earned $2.28 EPS. MetLife's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife's dividend payout ratio is 38.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. 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 report on Monday, August 11th. Wolfe Research raised MetLife to a "strong-buy" rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. raised their price objective on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and an average price target of $95.18.

About MetLife

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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