MetLife, Inc. $MET Shares Bought by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its MetLife stake 29.7% in the third quarter, adding 306,277 shares to hold about 1.34 million shares valued at $126.4 million. Institutional investors and hedge funds collectively own nearly 95% of the stock.
• MetLife beat quarterly earnings and revenue estimates, with EPS of $2.78 and revenue of $20.52 billion; revenue rose 18.2% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $107.12.
• MetLife declared a quarterly dividend of $0.5925 per share, equivalent to a 2.3% yield, and authorized a $3 billion share repurchase program.

Eurizon Capital SGR S.p.A. grew its position in MetLife, Inc. (NYSE:MET - Free Report) by 29.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337,687 shares of the financial services provider's stock after purchasing an additional 306,277 shares during the quarter. Eurizon Capital SGR S.p.A. owned approximately 0.21% of MetLife worth $126,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CX Institutional raised its holdings in MetLife by 1.3% in the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock worth $817,000 after acquiring an additional 115 shares during the period. Investment Research Partners LLC lifted its position in MetLife by 3.9% during the 3rd quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider's stock worth $292,000 after acquiring an additional 116 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in MetLife by 0.6% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider's stock worth $2,108,000 after acquiring an additional 124 shares during the last quarter. International Private Wealth Advisors LLC boosted its holdings in MetLife by 3.1% during the third quarter. International Private Wealth Advisors LLC now owns 4,223 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 126 shares during the period. Finally, Capital Analysts LLC boosted its holdings in MetLife by 0.3% during the second quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider's stock valued at $3,238,000 after acquiring an additional 129 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MET has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on MetLife from $110.00 to $113.00 and gave the company an "overweight" rating in a research report on Thursday. TD Cowen boosted their price objective on MetLife from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price objective on MetLife from $108.00 to $110.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Argus increased their target price on MetLife from $93.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, Keefe, Bruyette & Woods raised their target price on MetLife from $105.00 to $108.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, MetLife has an average rating of "Moderate Buy" and a consensus target price of $107.12.

MetLife Price Performance

NYSE:MET opened at $101.87 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.21 and a quick ratio of 0.20. MetLife, Inc. has a one year low of $67.33 and a one year high of $106.72. The company has a fifty day moving average price of $98.68 and a 200 day moving average price of $86.77. The stock has a market cap of $64.02 billion, a P/E ratio of 10.01, a PEG ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.01. The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 25.71%. The business's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 EPS. Analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, November 3rd. MetLife's payout ratio is currently 30.90%.

MetLife announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Share buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at MetLife

In related news, CEO Michel Khalaf sold 187,425 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $102.97, for a total transaction of $19,299,152.25. Following the transaction, the chief executive officer directly owned 759,013 shares in the company, valued at $78,155,568.61. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.

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