MetLife, Inc. $MET Shares Purchased by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors increased its MetLife stake by 19.5% in the third quarter, adding 33,557 shares to own 205,989 shares valued at approximately $19.4 million. Institutional investors collectively hold 94.99% of MetLife’s stock.
• Analysts remain broadly positive, with 13 Buy ratings and two Hold ratings, producing a consensus “Moderate Buy” rating and a $105.44 average price target.
• MetLife reported quarterly EPS of $2.43, beating estimates by $0.13, and announced a $3 billion share-repurchase authorization. The company also declared a $0.5925 quarterly dividend, equivalent to a 2.3% annual yield.

Cantor Fitzgerald Investment Advisors L.P. grew its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,989 shares of the financial services provider's stock after purchasing an additional 33,557 shares during the period. MetLife makes up 0.9% of Cantor Fitzgerald Investment Advisors L.P.'s investment portfolio, making the stock its 29th largest position. Cantor Fitzgerald Investment Advisors L.P.'s holdings in MetLife were worth $19,396,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MET. Magnus Financial Group LLC acquired a new position in shares of MetLife in the 3rd quarter worth approximately $368,000. Quadrant Capital Group LLC raised its position in MetLife by 0.9% in the third quarter. Quadrant Capital Group LLC now owns 15,841 shares of the financial services provider's stock valued at $1,594,000 after purchasing an additional 148 shares during the period. Carnegie Investment Counsel raised its position in MetLife by 4.4% in the third quarter. Carnegie Investment Counsel now owns 3,136 shares of the financial services provider's stock valued at $295,000 after purchasing an additional 132 shares during the period. Nisa Investment Advisors LLC raised its position in MetLife by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 144,007 shares of the financial services provider's stock valued at $13,560,000 after purchasing an additional 2,361 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of MetLife by 159.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 220,050 shares of the financial services provider's stock worth $20,720,000 after buying an additional 135,186 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MET shares. Wells Fargo & Company raised their target price on MetLife from $109.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Mizuho dropped their target price on MetLife from $112.00 to $109.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Atlantic Securities set a $103.00 price target on shares of MetLife in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of MetLife from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Finally, TD Cowen increased their price target on shares of MetLife from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday. Thirteen analysts have rated the stock with 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 a consensus price target of $105.44.

MetLife Price Performance

Shares of NYSE MET opened at $102.35 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $65.86 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78. The stock's 50-day moving average is $97.12 and its two-hundred day moving average is $89.52. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $102.57.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The business had revenue of $13.52 billion during the quarter, compared to analysts' expectations of $19.67 billion. During the same quarter last year, the business posted $2.02 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Analysts forecast that MetLife, Inc. will post 9.93 EPS for the current fiscal year.

MetLife announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that permits the company to buy back $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

MetLife Announces Dividend

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 $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a yield of 2.3%. MetLife's payout ratio is currently 45.40%.

MetLife Company Profile

MetLife, Inc NYSE: MET is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.

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