SG Americas Securities LLC Purchases 184,101 Shares of MetLife, Inc. $MET

Key Points

• SG Americas Securities increased its MetLife stake by 83.6% in the first quarter, buying 184,101 more shares and bringing its total holding to 404,334 shares worth about $28.6 million.
• Several other institutional investors also adjusted their MetLife positions, and overall institutional ownership remains high at 94.99%, indicating strong professional investor interest in the stock.
• MetLife recently beat earnings expectations with Q1 EPS of $2.42 versus the $2.27 estimate, and it also raised its quarterly dividend to $0.5925 per share, yielding about 2.7% annualized.

SG Americas Securities LLC boosted its position in MetLife, Inc. (NYSE:MET - Free Report) by 83.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 404,334 shares of the financial services provider's stock after acquiring an additional 184,101 shares during the period. SG Americas Securities LLC owned 0.06% of MetLife worth $28,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Activest Wealth Management lifted its stake in shares of MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after buying an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of MetLife in the fourth quarter valued at $30,000. Sound Income Strategies LLC grew its position in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter valued at $31,000. Institutional investors own 94.99% of the company's stock.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife shareholders approved the board slate, auditor, and executive compensation at the annual meeting, which suggests governance continuity and no major shareholder revolt. MetLife Shareholders Back Board, Auditor and Executive Pay
• Neutral Sentiment: Multiple articles about World Cup matches at MetLife Stadium highlight heavy event traffic and global exposure for the venue, but these stories are more about the stadium than MetLife’s insurance business. Norway vs. Senegal preview for World Cup match Monday at MetLife
• Neutral Sentiment: Some coverage noted complaints about the stadium’s new World Cup grass and match conditions, which could reflect on the venue experience, but it is unlikely to have a meaningful direct impact on MetLife’s fundamentals. World Cup players are complaining over conditions at MetLife Stadium
• Neutral Sentiment: Local stories about World Cup business near MetLife Stadium being uneven suggest some nearby merchants may not benefit as much as expected, but this does not appear to materially affect MetLife itself. World Cup business is not booming for some near MetLife Stadium
• Negative Sentiment: MetLife’s lawsuit seeking a receiver for Rockpoint’s Miracle Mile office tower, alleging default, points to stress in a commercial real estate loan or investment exposure and could be viewed as a credit-risk negative. Metlife requests receiver on Rockpoint’s Miracle Mile office tower, alleging default

Wall Street Analysts Forecast Growth

Several brokerages have commented on MET. Morgan Stanley raised their target price on MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods upped their price target on MetLife from $87.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Evercore set a $96.00 price objective on shares of MetLife in a research report on Thursday, April 9th. Finally, UBS Group boosted their price objective on shares of MetLife from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MetLife has a consensus rating of "Moderate Buy" and an average target price of $95.31.

MetLife Price Performance

Shares of NYSE MET opened at $88.22 on Wednesday. The firm has a market capitalization of $56.76 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.66 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock's 50-day simple moving average is $81.58 and its two-hundred day simple moving average is $77.93. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $89.62.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter last year, the company posted $1.96 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that MetLife, Inc. will post 9.98 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were paid a $0.5925 dividend. This is an increase from MetLife's previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, May 12th. MetLife's payout ratio is 45.93%.

MetLife 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.

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.