New Vernon Investment Management LLC Increases Position in MetLife, Inc. $MET

Key Points

• New Vernon Investment Management LLC increased its stake in MetLife, Inc. by 632.6%, owning 29,613 shares valued at approximately $2.38 million, making it the firm's 12th largest position.
• MetLife reported a Q2 EPS of $2.02, missing analysts' expectations of $2.32, with a revenue of $17.34 billion, down 2.7% from the previous year.
• The company declared a quarterly dividend of $0.5675 per share, which represents an annualized dividend yield of 2.8% and a payout ratio of 38.47%.

New Vernon Investment Management LLC boosted its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 632.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,613 shares of the financial services provider's stock after acquiring an additional 25,571 shares during the period. MetLife comprises 3.2% of New Vernon Investment Management LLC's investment portfolio, making the stock its 12th biggest holding. New Vernon Investment Management LLC's holdings in MetLife were worth $2,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. acquired a new position in MetLife during the 4th quarter worth approximately $25,000. North Capital Inc. acquired a new position in shares of MetLife in the 1st quarter valued at $26,000. Quarry LP acquired a new position in shares of MetLife in the 4th quarter valued at $31,000. Motco boosted its holdings in shares of MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after buying an additional 212 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of MetLife in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Performance

MetLife stock traded down $0.78 during trading hours on Tuesday, reaching $80.58. 3,836,445 shares of the stock were exchanged, compared to its average volume of 3,380,199. The stock has a market cap of $53.59 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The firm's 50 day moving average is $78.20 and its 200 day moving average is $78.38.

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

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is currently 38.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MET shares. Wells Fargo & Company restated an "overweight" rating and issued a $97.00 target price (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group increased their price target on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Wall Street Zen cut shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a research note on Monday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.60.

MetLife Profile

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.