NewEdge Advisors LLC Boosts Holdings in MetLife, Inc. $MET

Key Points

• NewEdge Advisors increased its MetLife stake by 20.1% in the second quarter, owning 74,002 shares valued at $6.26 million. Institutional investors and hedge funds collectively hold 94.99% of MetLife’s stock.
• Analysts remain broadly positive, with an average rating of “Buy” and an average price target of $102.21. Recent firms raised their targets, including Morgan Stanley to $111 and Keefe, Bruyette & Woods to $108.
• MetLife exceeded quarterly EPS expectations, reporting $2.43 versus the $2.30 consensus, while revenue increased 10.5% year over year. The company also maintains a $0.5925 quarterly dividend and authorized a $3 billion share-repurchase program.

NewEdge Advisors LLC boosted its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,002 shares of the financial services provider's stock after purchasing an additional 12,378 shares during the quarter. NewEdge Advisors LLC's holdings in MetLife were worth $6,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its position in MetLife by 15.2% in the second quarter. Allworth Financial LP now owns 15,836 shares of the financial services provider's stock valued at $1,340,000 after acquiring an additional 2,095 shares during the last quarter. Paragon Capital Management Ltd increased its stake in MetLife by 9.9% in the 2nd quarter. Paragon Capital Management Ltd now owns 3,340 shares of the financial services provider's stock valued at $283,000 after buying an additional 302 shares during the period. Empirical Finance LLC increased its stake in shares of MetLife by 2.8% during the second quarter. Empirical Finance LLC now owns 22,299 shares of the financial services provider's stock worth $1,887,000 after acquiring an additional 599 shares during the period. Nykredit A S purchased a new position in shares of MetLife during the 2nd quarter worth approximately $178,638,000. Finally, Parkside Financial Bank & Trust lifted its holdings in MetLife by 8.5% in the second quarter. Parkside Financial Bank & Trust now owns 3,163 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 249 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on MET shares. Wall Street Zen raised MetLife from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Weiss Ratings raised MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. Morgan Stanley lifted their price objective on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods increased their price target on MetLife from $105.00 to $108.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, TD Cowen lifted their price objective on shares of MetLife from $87.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $102.21.

MetLife Stock Down 0.1%

MET opened at $97.07 on Monday. The stock's 50 day moving average price is $95.32 and its 200 day moving average price is $84.19. 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 stock has a market cap of $62.46 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.93 and a beta of 0.77. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same quarter in the previous year, the firm posted $2.02 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that MetLife, Inc. will post 9.78 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th were issued a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife's dividend payout ratio is presently 45.40%.

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

About MetLife

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

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.

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