Osmosis Investment Management UK Ltd bought a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,042 shares of the financial services provider's stock, valued at approximately $1,865,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of MetLife during the second quarter valued at approximately $26,000. Activest Wealth Management raised its holdings in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Burk Holdings LLC bought a new position in MetLife in the second quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new position in MetLife during the fourth quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in MetLife during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.
MetLife Stock Up 2.0%
NYSE:MET opened at $96.20 on Tuesday. The firm has a market cap of $61.90 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $100.93. The firm has a 50-day simple moving average of $92.58 and a two-hundred day simple moving average of $82.32.
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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the firm earned $2.02 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that MetLife, Inc. will post 9.72 earnings per share for the current fiscal year.
MetLife Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife's payout ratio is currently 45.40%.
MetLife announced that its board has approved a stock repurchase program on Wednesday, August 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
MET has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday. Evercore reissued a "mixed" rating on shares of MetLife in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Barclays upped their price objective on shares of MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, UBS Group lifted their target price on shares of MetLife from $102.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $102.21.
Read Our Latest Report on MetLife
About MetLife
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider MetLife, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MetLife wasn't on the list.
While MetLife currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
