MetLife, Inc. $MET Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management increased its MetLife stake by 39% in the second quarter, adding 16,732 shares to own 59,682 shares worth approximately $5.05 million. Institutional investors collectively own nearly 95% of MetLife’s stock.
• MetLife reported quarterly earnings of $2.43 per share, exceeding the $2.30 analyst consensus, while revenue rose 10.5% year over year. The company also authorized a $3 billion share buyback, representing up to 4.8% of outstanding shares.
• MetLife declared a quarterly dividend of $0.5925 per share, equivalent to a 2.4% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $102.21.

Northwestern Mutual Wealth Management Co. raised its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 39.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,682 shares of the financial services provider's stock after purchasing an additional 16,732 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in MetLife were worth $5,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MET. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of MetLife in the 2nd quarter valued at $26,000. Burk Holdings LLC purchased a new stake in MetLife during the 2nd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in MetLife during the 4th quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of MetLife in the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of MetLife in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Up 2.8%

Shares of MET stock opened at $99.15 on Friday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $100.93. The stock has a market cap of $63.80 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 0.77. The stock has a 50 day moving average of $94.20 and a 200 day moving average of $83.40. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. As a group, sell-side analysts expect that MetLife, Inc. will post 9.76 EPS for the current year.

MetLife announced that its board has approved a share buyback plan on Wednesday, August 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) is currently 45.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on MetLife from $106.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Jefferies Financial Group lifted their price objective on shares of MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Evercore reaffirmed a "mixed" rating on shares of MetLife in a report on Monday, August 24th. Morgan Stanley increased their price objective on shares of MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Finally, Atlantic Securities set a $103.00 target price on shares of MetLife in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, MetLife has an average rating of "Buy" and a consensus 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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