Munich Reinsurance Co Stock Corp in Munich Invests $7.34 Million in MetLife, Inc. $MET

Key Points

• Munich Reinsurance Co. Stock Corp. in Munich acquired 86,758 MetLife shares worth approximately $7.34 million during the second quarter. Institutional investors now own 94.99% of MetLife’s outstanding stock.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $102.21; several firms recently raised their targets to between $97 and $105.
• MetLife exceeded quarterly EPS expectations, reporting $2.43 versus the $2.30 consensus, while also declaring a $0.5925 quarterly dividend and authorizing a $3 billion share-repurchase program.

Munich Reinsurance Co Stock Corp in Munich bought a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 86,758 shares of the financial services provider's stock, valued at approximately $7,341,000.

Several other hedge funds have also recently added to or reduced their stakes in MET. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of MetLife in the second quarter worth $26,000. Burk Holdings LLC acquired a new stake in MetLife in the second quarter worth about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife in the fourth quarter worth about $30,000. Prosperity Bancshares Inc bought a new position in MetLife in the 4th quarter valued at about $31,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife during the 4th quarter valued at about $31,000. Institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on MET. Barclays boosted their price target on shares of MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Atlantic Securities set a $103.00 price objective on shares of MetLife in a research note on Wednesday, July 15th. TD Cowen boosted their target price on MetLife from $87.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Mizuho upped their target price on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of "Buy" and an average target price of $102.21.

MetLife Price Performance

Shares of NYSE MET opened at $97.51 on Friday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $100.93. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $94.42 and a two-hundred day moving average of $83.50. The company has a market capitalization of $62.74 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.95 and a beta of 0.77.

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, topping the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $19.67 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The business's revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that MetLife, Inc. will post 9.76 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given 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 payout ratio is 45.40%.

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

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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